No deficiency language at all on approval letter - no mention of anything
I just got approval letter on a Chase 1st, but there's no deficiency language in it at all. It doesn't say they retain the right etc. etc. or that it completely clears up all debt. Shouldn't there be some mention of the loan and what it means going forward? It only talks about the terms and proceedures.
thanks,
andrew
Replies to This Discussion
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Permalink Reply by meme on
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my first ss approval w/chase was the same, and my lawyer was not comfortable with it, and neither were several others i showed it too. i managed to get them to add the verbiage to waive the deficiency and forgive it. i closed my investment property last friday, i'm in fl. i dont have to worry about them chasing me down for a 105k deficiency down the road... trust me, you want them to add the language. i feel at peace now. good luck! btw, i'm the seller.
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Permalink Reply by Wendy Rulnick on
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Does it say "settled" anywhere? In any case, have the seller consult with an attorney.
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