Is it possible to get a Bank of America Short Sale Approval With B of A Waiving the Deficiency Judgment?
The answer is YES or maybe sometimes.
The Bank of America Short Sale which I was dealing did turn out to be a purchase money loan. What is a purchase money loan? This is the original loan used when the property was first purchased and there has been no refinancing of the loan. The condo is located in Thousand Oaks, California (Ventura County) in case you were wondering. Bank of America did send me an approval letter with the "usual" which leaves them the right to pursue a deficiency however, the negotiator said she would be able to send me another approval letter since I had asked for it and she did. I'm sure real estate agents have had different experiences with Bank of America Short Sales. Bank of America's Equator Short Sale System can be good and bad. To attempt a Short Sale with any lender can be a challenge but it may be worthwhile.
Here is a copy of the Bank of America Short Sale Approval Letter in which B of A waives any deficiency.
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