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Oregon and Pursuit of Deficiency Judgement

Posted by Angie Mombert on April 26, 2010 at 7:58am in Short Sale Discussions

Has anyone had any luck with Bof A or Chase in getting them to (in writing) agree to Not Pursue a Deficiency Judgement?  I just got off the phone with B of A and they are going to have someone in their department "reach out to me" within 24 hours.  They are in the process of changing their language, but haven't done anything yet.  Does that mean my Sellers are out of luck?  They said they had different verbage for different states.

 

Angie

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Replies

  • Jared Hokanson April 30, 2010 at 4:49am
    Angie - I would recommend your clients visit with their attorney regarding the banks approval letter and get the attornies advice.
  • Bill Black April 26, 2010 at 5:50pm
    Angie,
    I will cautiously limit my "opinions" in the open forum but your specific situation sounds pretty much like a clean deal and the banks have no ground on a DJ. They can always ask of course but the negotiation on this should be a big "NOPE not gonna happen". This all depends on the situation as well- are they current on mortgage, excess assets, etc.

    Email me and we can chat a little more on specifics.

    Bill Black
  • Angie Mombert April 26, 2010 at 5:06pm
    Purchase money 1st..no 2nd and no MI.

    Bill Black said:
    Is this purchase money first and or 2nd?

    Bill Black
  • Bill Black April 26, 2010 at 2:24pm
    Is this purchase money first and or 2nd?

    Bill Black
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