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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Is this purchase money first and or 2nd?

Bill Black
Purchase money 1st..no 2nd and no MI.

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

Bill Black
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 - I would recommend your clients visit with their attorney regarding the banks approval letter and get the attornies advice.

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