real estate short sale

Get Legal Help Today

 Secured with SHA-256 Encryption

real estate short sale

The 2nd lender is asking for more money outside the settled sale?

Asked on June 3, 2009 under Real Estate Law, Arizona

Answers:

J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

I am a lawyer in CT that practices in this area.  I would have to see the short sale documents to really give you a definitive answer, but the short answer is that they should not be asking you for more money outside closing if they signed off on the short sale (i.e. approved).  you should look into whether and to what deficiency they waived off on.  this way you can claim that you did the short sale as a result of their representation that it would accept the short payoff.  i would consult with the lawyer or person that handled the short sale for you as it doesnt make sense.  if there is no basis, i suggest reporting the bank to the banking commissioner and copying the bank on the complaint.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption