Loan Modification Forum - LoanSafe.org - View Single Post

MH_Sucker · 05-23-2009, 05:46 PM

We did not get anything in writing that stated they would not pursue us in the future but we have all the approval paperwork and signing the promissory note should protect us.

We did try and play hardball but they assured us that they (the insurance) would not approve the sale and it would not happen if we did not pay sign the note. It was more important to us to be able to buy again sooner than 7 years than to just let it go into foreclosure.

We were told that the report to the credit agencies would state that it was settled for less the owed.

05-23-2009, 05:46 PM	#4 (permalink)
MH_Sucker Senior Member Join Date: Nov 2008 Posts: 30 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Short Sale Success We did not get anything in writing that stated they would not pursue us in the future but we have all the approval paperwork and signing the promissory note should protect us. We did try and play hardball but they assured us that they (the insurance) would not approve the sale and it would not happen if we did not pay sign the note. It was more important to us to be able to buy again sooner than 7 years than to just let it go into foreclosure. We were told that the report to the credit agencies would state that it was settled for less the owed.