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Folks:

I am far from a populist.  I am Reagan Republican.  However, you knew you would see this coming with the banks.

When working a short sale, I ensure the bank puts the non-recourse in writing, or make sure the clients document I advised them to seek a lawyer's opinion about the potential risks of recourse (or that they willingly chose not to).

Well, here comes the first of the deficiency judgments... 

http://finance.yahoo.com/news/Mortgage-lenders-pursue-cnnm-3107909798.html?x=0

Michael

 

 

 
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2 Comments on Banks...We Got Your Money, We Won't Lend it to You, And Now, We're Comin' After Ya'

FEB
03
2010
669,177 Points 18 Featured Posts Outside Blog Called Shot Master

Michael,

Atforney.  Attorney.  Attorney.

North Carolina is a deficiency state, and short sellers need competent legal counsel.

Foreclosure is a whole 'nother nightmare...
3:24pm • #1
FEB
04
2010
Attended Rain Camp

Another "I told you so."  unfortunatley fallout is expected.  That is why it is in all our contracts. 
2:12pm • #2

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Michael Clarkson is one of Denver's highest profile brokers. He’s been featured in Realtor® Magazine three separate times, Denver Post, Denver Business Journal, KOA Radio, KHOW Radio, and the Colorado Radio Network. Michael is a licensed Managing Broker in Colorado and a GRI (Graduate Realtor® Institute). Michael has an MBA in International Business from Regis University in Denver.


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