Mission Viejo Short Sale Stories from someone who actually negotiates them. My latest tale is about a short sale with THREE loans. Yes, its difficult enough to make a two loan deal work, but what happens when there is three loans? The third loan in this case was from a private lender, actually the previous owner of the property that took back a third to sell the home. I contacted him and told him the situation. It was a small third of about $15,000. I told him that he would loose everything and that the bank would not pay anything for his third, unlike the second. I asked him if he would accept $500 from my commission (yes I said MY commission). He wanted $1500 and we settled at $1000.00. Its better to get some commission out of the deal then NONE!
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