How do I know if the balance owed is forgiven

[faith]

Cat, Moe and Professor Shays,
My CW Negotiator sent me an email saying that my first mortgage is approved for short sale and they changed the amount allocated to be given to the 2nd mortgage back to $14k, he told me that he is negotiating with the 2nd mortgage to waive the deficiency letter and will know by next week.

How do I know if the balance owed for the 1st mortgage and 2nd mortgage is forgiven by the lender and the mortgage insurance. What do I have to look for in the contract.? Will it say in the contract that the balance owed for both mortgages are forgiven? Do I need to hire a lawyer just to look for this contract? I don't know what to look for.

Please advise.

Thanks,
Faith

[miabs]

Faith,
Did you get an approval from CW? Make sure that you have an approval first and have them put in writing that you don't owe anything.

Miabs