Short Sale Superstars - Over the past 2 years this site has been a great resource of information for me during my short sale with Chase. I closed my short (seller) on 12/31/11. Today I received a letter from Chase - Release of Mortgage. This says that Chase has received "full payment and satisfaction of the same, and in consideration therof, does hereby cancel and discharge said Mortgage."
The cover letter says they have forwarded an original executed Release of Lein to the recorder's office..
Am I correct is thinking this is a good thing... Thanks..
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Dan,
That document (without looking at it) is probably just the relaese of your mortgage from the property. If you are asking if it is a complete Personal Release of Liability from the the mortgage, then that language should have been in your approval letter from Chase at the time you closed your short sale. As always, when inquiring about the personal release of libility from the obligation when doing a short sale please consult an attorney. I hope this helps!
Phil
Phill,
Thanks for the note...
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