mortgage refinancing question … Need help?

2 years ago I bought my house for 370K. We have an agreement for payment of land means that my name will be added to the title, but the original owner finance the loan. The original owner had a mortgage 1 and 2. Written in the agreement a clause that I have my own financing within 24 months and take its name from the Titel.Hier where it is difficult. I recently received a certificate for the home, whose value has fallen on the market. The present value is about 320K. I can do a VA loan, which will cover 100% of the estimated value of at 320th Can the mortgage company’s current bank holding the second subordinated loan? I can not understand how to get financing without 50K to put on the table. If the 2 Lender has agreed to a parent, they would be ready at 100% value for the house are comments sein.Alle hilfreich.Die 178K and 179K is the first second = 358k total mortgages outstanding. I have a way to pay my own funding for this amount, or 320 of the VA and get the second to make sure Figur.Vielen thanks for all the comments. I will request an extension of the agreement and include the short sale. How could he that a short sale, if it does not pay the second mortgage. The current value could be due on 2 30K.

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