20% of all loans are considered "whole" loans. It means that essentially 80% of all the loans out there have one lender. So what is this all about? mostly people buying on 80/20 loans to avoid PMI and get 100% financing and then we created a mess that we are in.
What it does that it created a huge opportunity for short sale not just loan modification, because loan modification is extremely difficult when you talk about 2 different lenders, you got option1 on the first and option2 on the second. Well option 2 is gonna have to be willing to release their lien and they have pay something, so if its just a typical loan modification it doesn't get done, so that short sale comes into place and that's we're you can use some skills to your advantage and a real more meaningful way.
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