Has anyone had any experience with Principal Bank as the 2nd Lien Holder? I am starting the process where Wells is the 1st and Principal holds the 2nd. We are hoping that they will accept 10% of the original $50,000 balance but I have not had any experience with them and I've not found anyone else that has either. Any information would be appreciated.
Actually had a pretty good experience with Principal...they only had a couple of people working short sales and I ended up with somewhat of an inexperienced negotiator. The assigned negotiator was out sick for 2 weeks. They accepted 6% of the original balance. My seller was willing to pay more just in case.
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