Hello all...
I just received an approval letter from Citi and the language regarding Deficiency seems a bit vague to me. I was hoping to get your thoughts:
"Upon receipt of the NET PROCEEDS and a COPY OF THE FINAL SETTLEMENT
STATEMENT, CitiMortgage, Inc. will give a full release and reconveyance of its lien as
agreed, and no deficiency judgment will be instituted."
Transaction Details:
Las Vegas, Nevada
Amount Owed: $380,000 (Conventional)
Purchase Price: $113,000 Cash
Comm: 6%
Offer to Approval: 41 days
I appreciate any feedback...thanks!
Azim
Tags:
Sounds like both a release of lien and waiver of deficiency to me. But, I'm not a real estate attorney in Nevada and you should absolutely recommend/advise the seller to have one look at this! ;-)
Looks good to me - say THANK YOU and close it !
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.