Posted on: 08th Apr, 2010 01:02 pm
My client has an approved short sale where the 2nd lien holder states in writing that for the agreed short payoff amount they are releasing the lien and charging of the remainder of the debt as collectable balance. Can they do that without having the client sign at least a promissory note.
Hi garth!
Welcome to forums!
The second lien holder always has the rights to collect the deficient balance from your client whether or not he has signed a promissory note in that regard.
Sussane
Welcome to forums!
The second lien holder always has the rights to collect the deficient balance from your client whether or not he has signed a promissory note in that regard.
Sussane