Jeff A
How to get B of A to waive deficiency?
Can anyone suggest the most effective way to get B of A to waive their right to pursue deficiency?
I received a short sale approval from B of A with the clause saying they can pursue the deficiency:
"BAC Home Loans ...
Brian Osgood
Short sale done, received letter from attorney
Hello all,
So I'm looking for some advice here. My house was sold as a short sale, we closed on 11/4/09 and there was a first (Washington Mutual, now Chase) and second (Citimortgage) lienholder involved. I recently...
John Corey
Personal Guarantee (PG) negotiations
I did a quick search and did not see anything recent that matches this. If someone knows of a good thread, drop a link here.Otherwise, lets discuss what people do to negotiate PGs. What is considered normal or accepta...
Michael C Gregory
buying upside down properties
If you see a property owner who is in trouble, and let's say his loan is for $200,000, and the ARV is $180,000. And you want to offer him $117,000. How does this work? Will the deal have to go through a Short Sale spe...
Samuel Chua
What happens if I fail to pay the mortgage for my property
What happens if I have a bank loan and fail to pay the mortgage? Will the bank take the property away from me? Is this why it is always better to get a downpayment even though I have enough cash to purchase the entire...
CJ Moulton
What happens to the remaining balance after a home is auctioned for a lower price?
Hello All,Recently I have been reading up on Foreclosures, and I went online to look at some foreclosed properties (Auction.com), but there's something I don't quite understand...I noticed that the starting bid for a ...
Dion DePaoli
Mortgage Deficiency Judgement - Are you getting them?
I am curious what some of the lesser experienced folks are doing when it comes to possible deficiency judgments. Are you pursuing the judgement at all?If so, are you attempting to collect on the judgement after obtai...
Martha Blumel
Owner in BK- Shortsale and Deficiency Judgment
I have been speaking to an owner of a property, that I am interested in, who tried a short sale before and Chase wanted a deficiency judgement against him, so he did not move forward with it. The property has been sit...
Dario Barba
How to remove deficiencies from second lien
Hi Everyone,
I wanted to see what are the strategies out there that agents or short sale negotiators use to make second liens accept the typical 10% of the lien as paid in full. And not send the rest of the unpaid lie...
Ibrahim Hughes
Deficiency Judgments & Debt Relief Tax Liability
If a seller of a vacant (and run down) property get's debt forgiveness in a short sale, are they liable tax wise (to the IRS) for the forgiven debt if the house was a rental at the time of purchase?
How about it was ...