It's simply criminal that second lien holders are asking for money outside of the closing in order to make up for some of the money they aren't getting. Second lien holders usually get a specified amount that is negotiated out of the proceeds with the first mortgage holder. However, the second lien holder is always last on the list to get the benefits of anything.
However, it doesn't mean that they should prompt actions that are illegal. RESPA says it's illegal and so do I. I know how hard I work for my clients, and this just outrages me to no end. The only thing we can do is work towards a better process and hold people accountable. I know I do!
-Mayer Dallal
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