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Author Topic: 2nd mortgage sttlement offer to home owner. Need advice  (Read 3567 times)

Offline HL2000

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2nd mortgage sttlement offer to home owner. Need advice
« on: September 25, 2008, 02:19:04 pm »
I have an offer to settle the 2nd mortgage on a short sale for a reasonable dollar amount.

The question is...................what am I looking for in the way of paperwork assurance that a deficiency will not be persued?

Is the bank payoff report to the credit agencies standard or is there some wording or reporting code that is better than another ?

Any advice would be helpful.

The bank is willing to settle this account with the owner directly...... without a short sale buyer in place.

 




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