to anyone who has done a short sale in cali - Loan Modification Forum

noguiltwalkawayca · 05-29-2009, 08:36 AM

Hi,
I have received the final approval of short sale from Litton Loan. here are some details then the questions
Home in California
Non Recourse loan
Owe 260K the accepted agreement is: buyer to pay 96K
Litton says they will be reporting as "settled"

What should i be on the look out for from the lender in order to not get a collection call after the close?

Thank you
Patrick

HopingtoFind · 05-29-2009, 10:47 AM

An agreement from them in writing releasing you from liability for deficiency and that they will not pursue you for any debt in relationship to this loan.

noguiltwalkawayca · 05-30-2009, 08:18 AM

very good, thank you

05-29-2009, 08:36 AM	#1 (permalink)
noguiltwalkawayca Member Join Date: Mar 2009 Posts: 22	to anyone who has done a short sale in cali Hi, I have received the final approval of short sale from Litton Loan. here are some details then the questions Home in California Non Recourse loan Owe 260K the accepted agreement is: buyer to pay 96K Litton says they will be reporting as "settled" What should i be on the look out for from the lender in order to not get a collection call after the close? Thank you Patrick

05-29-2009, 10:47 AM	#2 (permalink)
HopingtoFind Senior Member Join Date: Oct 2008 Posts: 556	Re: to anyone who has done a short sale in cali An agreement from them in writing releasing you from liability for deficiency and that they will not pursue you for any debt in relationship to this loan.

05-30-2009, 08:18 AM	#3 (permalink)
noguiltwalkawayca Member Join Date: Mar 2009 Posts: 22	Re: to anyone who has done a short sale in cali very good, thank you

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