This week’s Preforeclosure “Tip of the Week” from PreforeclosureDailyGrind.com’s Bob Lachance and Chris “The Drummer” Bowes discuss the latest changes from Wachovia and First Franklin and in particular what they both will allow a 2nd mortgage to “Net” when they take a discount (short sale). This video covers how much they will typically allow a 2nd mortgage and how to talk with each departments short sale/loss mitigators. Visit www.PreForeclosureDailyGrind.com for more videos or to ask questions visit www.AskBobLachance.com. Please leave your comments and questions so we can address them on future videos!

6 Responses to “Preforeclosure Tip of the Week #9 Wachovia and others change what they allow 2nd Mortgages”

1. Sean Wilder says:

   June 25, 2009 at 5:32 am

   Hey guys,

   What, no cool intro music on this video? Common, that riff is awesome.

   Reply
2. BB says:

   June 25, 2009 at 10:37 am

   Just signed up for this yesterday. I am feeling very smart for doing so… Great information! Thank you.

   Reply
3. Chad Rice says:

   August 28, 2009 at 1:18 pm

   Is that why BOA denied my second offer of 3k? They want 5% of the net of their balance? I will send a counter of 5% of their 2nd and see what happens.

   Reply
4. Bob Lachance says:

   August 31, 2009 at 5:16 am

   Chad,

   That is why! Let me know how your counter goes.
   Thanks,
   Bob

   Reply
5. Gregory Burke says:

   February 23, 2010 at 11:58 pm

   Good info! I have a short sale approval with the first and a wachovia second mortgage that has been sent to collections. No one answers the phone for the collections number they provided!!! Anyone have a fax or contact in Wachovia Collections? Thanks

   Reply
6. Bob Lachance says:

   February 24, 2010 at 8:24 am

   Greg,

   Sorry, we don’t have one for Collections, just loss mitigation.
   Bob

   Reply