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I'm baffled at this second lien holder.

I'm currently in a short sale review with a few offers on a home in california and the first will get paid and the second which is a subsidiary of the first has rejected two offers and will not counter and let us know what their bottom line is. They would rather foreclose tomorrow than let us know where we need to be, and they want the seller to do a promissory note for the remaining balance of the lost. Is there any reason why the second would rather foreclose than get money? I don't understand.

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Posted Thursday Sep 04