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pastor1189
Jul 23, 2014, 07:26 AM
What percentage of short sales gets the debtor completely resolved of
Any further debt hereafter. I wonder how many creditors would accept a complete absorption of the balance of the mortgage? I suppose a
Specify narrative should state that the debtor is completely cleared of any further debt after the short sale is completed.

AK lawyer
Jul 23, 2014, 08:21 AM
It is completely up to the lender whether to approve the short sale and release the borrower from deficiency liability. Check with them ASAP.

pastor1189
Jul 23, 2014, 09:15 AM
Thanks I was just curious.I guess each short sale is different.

ScottGem
Jul 23, 2014, 10:32 AM
I guess each short sale is different.

Very much so! Short sale policies vary by lender. Within each lender, whether to accept a short sale or not is handled on a case by case basis.