Re: Short Sale Approval Letter Language

Posted by Don on August 21, 2008 at 11:09:47:

In Reply to: Re: Short Sale Approval Letter Language posted by NJD on August 21, 2008 at 06:19:52:

Thanks for the advice. Spoke to Rep this morning and he said that they would not pursue a DJ and would be issuing a 1099-C. I told him I wouldn't go through with the sale unless I had something in writing stating this. The current language in the acceptance letter appears to leave the door wde open for a DJ. He asked me to email him the verbiage I want added to the letter. I'm going to ask them to ad the following:
"AmTrust will provide mortgagor full release of liability from any shortage between the mortgage balance and the net proceeds of the sale. AmTrust waives its right to pursue a deficiency judgement against mortgagor."
Does this seem sufficient?

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