I am trying to do a short sale on a piece of property and would like some input on how to proceed.

Here are the basics

House will probably sell for 165k
First is 130k
Second is 30K
house is in good to excellent shape, so lowballing BPO will not work. The only thing that could be said is that the house is overbuilt for the street that it is on.

Got the deed today.

What should the plan of attack be from this point forward. i.e. do I negotiate with the first, first, or the second first or what.

Input appreciated! Thanks
George