Relevant:
- Arizonans (And Others)- Beware The Short Sale
- Begging The Bank To Forgive Some Of The Mortgage On Your Primary Residence? Better Act Fast
- Bill sets 45-day deadline on lender short sale decisions
- Short Sales for Borrowers Current on Mortgage
- Senator on a Mission to Change the Way Short Sales Affect Credit Reporting
2009-07-11 — calculatedriskblog.com
``Often, the troubled home owner assumes the loss will be eaten by the lender. But Bank of America and Chase have quietly added language in their short-sale agreements that require the borrower to sign a promissory note for the shortfall.''
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Comments:
mortgagemess at 23:14 2009-07-12 said:
they are not the only ones doing that...banks like Flagstar are doing the same...if they haven't sold off your loan yet... Permalinkadd a comment | go to forum thread
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