Anyone know how far Republic Bank will go?

[lots2learn]

I just completed a short sale a few weeks ago and thought, like others, that it was behind me. 1st mortgage was paid in full and 2nd mortgage got $22,000 out of $67,000 owed, for a $45,000 deficit. My credit report showed "charged off as bad debt" and then I got a letter from Republic Bank (Indiana) saying to call them to discuss paying the rest of what I owed them. I wish I had found this website before I sold the house. I am on unemployment and couldn't afford a real estate lawyer for advice, so I am grateful for this website to learn as much as I can. I keep hearing that the banks are so overwhelmed and can't pursue legal action with everybody, and then I hear stories about these banks playing hardball. I really don't know what to expect. I do understand it all depends on a person's circumstances. I appreciate any advice you can give me. I wonder if anyone out there has had any dealings with Republic Bank in Indiana or Kentucky and knows how far they will go in collecting this deficit?

[hope67]

I'm not familiar with that bank, however, my advice is to consult with an attorney, a lot of them offer "Free Consultation". I think you might need to file for Bankruptcy.

This is a link to search for a good lawyer: Search Super Lawyers - Lawyer Directory, Attorney Listings, Legal Resources, Attorneys, Law Firm, Articles, Law Firms, Local :: Super Lawyers

You can search by your state/city and lawyer's area of practice.

[TrappedFL]

I second the advice regarding an initial consultation w/ an attorney. From your post, it sounds like bankruptcy could be an option. I would find an attorney who deals with bankruptcy and debt negotiation, to either negotiate a release of the deficiency claim or guide you through bankruptcy if it goes that way.