We were approved for a short sale and now M&I is telling us we owe them $69,000! We don't know how to get out of it. They are threatening us with garnishment, taking our current home, etc. We would have been better off foreclosing!
What a nightmare!
DO NOT USE M&I
wendy,
Was this the deficiency after the short sale or a second on the property? What state are you in?
Best Regards,
Maurice Bedard
Founder of LoanSafe.org
DISCLAIMER: The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.
Yes, this was the deficiency after the short sale. The house was in Minnesota. The sale was in 2008. It is 2011 now and I am still paying on this house which I haven't owned since February 2008! Doesn't M&I bank get reimbursed from the Federal government?
Hi wendy,
There are strategies for dealing with this type of deficiency in which you should be able to work on some sort of settlement. Here is the thread to read through for these strategies to help you out.
Sold Out Junior Loans
Best Regards,
Cat Damiano
LoanSafe.org Moderator
The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.
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