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02-24-2008, 11:59 AM

OOPS, meant to point to California Code of Civil Procedure Section 580b.

I agree with Poppy's conclusion. Seems to me, given the Chase position of strength, they are being "reasonable" or "more than reasonable," but again you need to hire and run this by a real estate lawyer.

Look at it this way. They are giving you an opportunity to walk away from a difficult situation with relatively minimal impact to your credit score for a relatively small amount of money ($23K spread over 5 years). A lot of the borrowers I've seen frequent this site have faced far more harsh realities.

Daniel

02-24-2008, 11:59 AM	#8 (permalink)
ProfessorShays Guest Posts: n/a	Re: Is JP Morgan Chase Bluffing? OOPS, meant to point to California Code of Civil Procedure Section 580b. I agree with Poppy's conclusion. Seems to me, given the Chase position of strength, they are being "reasonable" or "more than reasonable," but again you need to hire and run this by a real estate lawyer. Look at it this way. They are giving you an opportunity to walk away from a difficult situation with relatively minimal impact to your credit score for a relatively small amount of money ($23K spread over 5 years). A lot of the borrowers I've seen frequent this site have faced far more harsh realities. Daniel