Posted on: 07th Jul, 2010 05:33 am
If I agree to the promissory note that the bank is requiring me to sign will this be the end of this if they also 1099 me or will they be able to come after me still? The original note was for $240,000.00 and the short sale is $ 132,000.00 with a promissory note of $ 30,000.00.
Hi bobby,
If you sign a note stating that you would be paying $ 30,000.00, then the lender will be able to come after you for that said amount. He cannot ask you to pay an increased amount or any other penalties.
Take care.
If you sign a note stating that you would be paying $ 30,000.00, then the lender will be able to come after you for that said amount. He cannot ask you to pay an increased amount or any other penalties.
Take care.