Balnce of the loan

Has anyone had to repay First Horizon or Metlife the balance of the outstanding loan after the short sale is approved. For example: the balance of the loan pre sale is 350,000; First Horizon accepts a short sale bid of 300,000; left over balance/difference = 50,000 ---Will this need to be repaid?

0 members like this

Replies to This Discussion

Permalink Reply by Julie Cendejas on August 22, 2010 at 2:15pm

The ONE approval letter I have had from MetLife released the seller from any repayment of the difference. All depends on the bank/investor.

RSS

Welcome to
Short Sale Superstars

Sign Up
or Sign In

Or sign in with:

Members

View All

Badges | Report an Issue | Terms of Service

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.