Posted on: 11th Jul, 2009 01:57 am
I am in the process of selling my house in Florida via a short sale. The bank and Freddie Mac want me to pay some cash and pay them a small amount in payments via a promissory note. I am OK with that, they have been fair with me. The paperwork indicates that this and the buyers money are the settlement. Can they file a deficiency judgement on me later for the fifference between the short sale amount minus what I am paying them back in payments and if so how long do they have to come after me?
Irene 0010,
welcome to mortgagefit
Under whose name (I mean to say whether under which loan clause) they are asking you money??
Make sure you get a written doc from them that you have paid this for the mortgage loan settlement and thus it will not be a big issue for you.
I don't think Freddie mac will sue you later on once you settle this thing with them.
keep in touch...........
welcome to mortgagefit
Under whose name (I mean to say whether under which loan clause) they are asking you money??
Make sure you get a written doc from them that you have paid this for the mortgage loan settlement and thus it will not be a big issue for you.
I don't think Freddie mac will sue you later on once you settle this thing with them.
keep in touch...........
if you have a written agreement that supposedly closes the matter, then i have to think that nobody is going to be knocking on your door later, looking for more money.
get a legal opinion.
get a legal opinion.
