Wilshire Short Sale

My realtor just informed me Wilshire approved my short sale request in Nevada, but would not provide me with a deficiency wavier. Should I keep allowing my realtor to negotiate with Wilshire or bring in an attorney?Does anyone know if Wilshire actively pursues individuals for a deficiency judgment?
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  • not much an attorney can likely do unless he is VERY well versed with the lender's legal department as ANY short sale consequences are ALWAYS dictated by the "Investor" on the note.....I have been doing short sales full time for 4 years and to date, NEVER heard a lender successfully go after an owner......I could go on for pages about why they likely will not, BUT keep in mind, your lender will have the same deficiency rights if you choose to let the home go to foreclosure....my 2 cents, do the short sale and move on with your life.
  • Greg - Your Realtor is just relaying the information. Normally, approval letters will not be changed. Get a copy of the approval and have your attorney advise you. Your Realtor will welcome the input, as well.
  • What are the numbers? What is owed and what are they getting?
  • It's my first mortgage, and my realtor is the only one who has talked to Wilshire so far. Would you suggest I start talking to the negotiator on the Wilshire side?
  • They will pursue the deficiency judgement. Is this on a first or a second mortgage? They will give a full release see my Wilshire Credit Corp page. It takes time and energy to get it. Who is your negotiator?
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