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gigi321 · 05-11-2009, 02:19 PM

Okay....so, we have approval from the first mortgage and have been waiting on the second for some time. Today, I get this correspondence. I am so confused. My attorney advised me not to worry he was going to negotiate but, I can't help to worry. Is this even negotiable? Should I get an attorney? He said he was going to speak to an attorney himself..........he is experienced in short sales but was taken aback by this response.

"Please be advised that Wachovia Bank will accept a short sale offer of $3,000 towards the 2nd lien but the deficiency balance will be charged off and the customers will be contacted by our Recovery Department for re-payment options after settlement has taken place. This will not be considered a settlement or forgiveness of debt.

If you have any questions or concerns please feel free to contact me directly."

05-11-2009, 02:19 PM	#1 (permalink)
gigi321 Member Join Date: Feb 2009 Posts: 20 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Help!!!! Second mortgage troubles Okay....so, we have approval from the first mortgage and have been waiting on the second for some time. Today, I get this correspondence. I am so confused. My attorney advised me not to worry he was going to negotiate but, I can't help to worry. Is this even negotiable? Should I get an attorney? He said he was going to speak to an attorney himself..........he is experienced in short sales but was taken aback by this response. "Please be advised that Wachovia Bank will accept a short sale offer of $3,000 towards the 2nd lien but the deficiency balance will be charged off and the customers will be contacted by our Recovery Department for re-payment options after settlement has taken place. This will not be considered a settlement or forgiveness of debt. If you have any questions or concerns please feel free to contact me directly."