deficiency judgement: Short Sale Blowup - BOA Says NO - 02/17/10 02:10 PM
Well it has been a common scenario that the banks will forgive a deficiency...until now. I recently got an approval for a short sale from Bank Of America and the Short Sale Approval Letter which said:  " XXXX and or it's investors may pursue a deficiency judgement for the difference in the payment recieved and the total balance due, unless agreed otherwise or prohibited by law, if the short sale closes on the loan referenced above. In addition, if this loan is covered by mortgage insurance, the mortgage insurance company may reserve the right to pursue the seller for the deficiency … (3 comments)

 

Barry Smith

Saint Petersburg, FL

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Excellent Service Realty

Address: 8435 4th St N, #5, St Petersburg, FL , 33702

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