Has anyone had BoA come after the deficiancy after the short sale
EVERY other short sale closing I have had the lender waived the right for the deficiency, why is BoA not budging on this, is there something else I should try with them? FYI it's not the Sellers primary residence
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Comment by Claudine Ellis on April 16, 2010 at 4:50pm
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I had them waive my deficiency judgement. I stayed on the phone after the approval letter was sent and made a stink until she removed the language. Removing the language doesnt really mean anything, but the govt, but a halt on deficiency judgements this year and BOA claims their new HAFA program or whatever it's called will not put deficiencies on anyone. Also, it depends on your state. California doesnt have deficiency. VA where I am does.
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Comment by Greg Bloss on April 16, 2010 at 1:20pm
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Thanks Bryant, it is so inconsistant as to what these banks are doing. But at least BoA seems to consistanly say not to the 1099. Do you know if there is a list of banks that are partisipating in the new HAFA program?
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Comment by Bryant Tutas on April 16, 2010 at 12:30pm
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Greg. I seriously doubt they;ll waive the right to go after a deficiency. Especially since it's an investment property. Of course if they foreclose the seller will have the same issue.
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