Reading: “Extra staff to fight foreclosures”( http://twitthis.com/mercsq )
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On February 2, 2010,
in Bankruptcy, Real Estate,
by blacklobellolaw
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2 Responses to “Reading: “Extra staff to fight…”
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"BoA approved a #shortsale of $124,900 with full #deficiency release of approx. $60k contingent upon a cash contribution of $5k." — blacklobellolawSubscription Options:
Tisha
Do you have any ideas that can help me? I ought my house in 2006. I owe $552k but my dream home is worth $320k. I can afford to keep making the $3500.00 payment on my interest only loan, but why? My husband wants to bail out…It just doesn’t make sense to stay. But I do not want to leave. Any chance of getting the principle reduced? How do I even go about it? Seems like the bank should want to negotiate a happy medium.
Tisha,
we tried short sale w/ indymac and they didn’t waive their right for deficiency judgement. Now we are forced to choose between short sale with deficiency judgement or foreclosure with 2nd mortgage’s 6 years for deficiency judgement.
Is it likely they will reconsider it if we use a lawyer?
Can we meet with you and get some legal advice on this?
Thanks
DH