Two Liens from Same Lender

Many distressed borrowers have a first and second mortgage that must be involved in the short sale. The second lien must be released before you move to the first. One point of frustration that realtors bring to my attention is that they must call two separate phone numbers (one for each lien) to get a release. Most lenders are divided into separate entities when it comes to junior liens (second mortgages). When you go to get the second mortgage released, be prepared to deal with a completely different group when you move to the first lien. You will never have dealings with loss mitigation group for two separate liens (unless it is a very small lender). So even though you may have a good relationship with the specific lender, be prepared to deal with two separate groups even though it is the same lender.