Sample Letter Offer to Junior Lienholder,
Sample Letter Offer to Junior Lienholder
The sample letter offer to the junior lien holder is written on the letterhead and it is dated. This is usually addressed to the second mortgage company. In this letter the loan number is mentioned and the person informs the bank representative that the letter is an offer for a certain sum of money which will serve as the full payment for the loan on the property which is mentioned. It states that due to the foreclosure which is being done that the amount of lien which is of the bank will be wiped out during the sale.
Considering the fact that the persons who have the property are going through hard times, as well as the fact that the property is under bad conditions, the writer of the letter urges the bank to accept the offer which is made and any deficiencies be wiped out or waived off.
The letter also contains the details of the authorization for the release as well as the hardship letter. Attached to the letter is also the comparable sales of the area as well as the photos of the premises and the estimate given by the contractor for repairs to be done to the place.
The writer of the letter urges the bank to assist so that they can close the deal as soon as possible. For that reason an approval is needed from the bank.
This letter is usually written by an investor who wants to purchase the property in question.
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