Definciency Judgments in Short Sales

[Fritz Barnes]

Do banks always, sometimes, or never agree to waive any deficiency judgment when approving your short sales?

[Fritz Barnes]

Right. I'll call you tomorrow.

[3cp0wmutijua4]

Hi Fritz,

 

I hope all is well.  Are you active with note buying?  Kevin and myself just purchased a note from a small bank (as a joint venture) the other week.

 

Perhaps we should PM so we don't hijack the thread ;)

[Fritz Barnes]

Hello Ryan...I met you at the Note Summit in Vegas.

[3cp0wmutijua4]

It's a bold statement to say you can always get deficiency judgments waived.  I had a bank deny my increased offer, and say they wanted the homeowner to share the burden.  With that being said, you can frequently get these waived by increasing purchase price or a cash contribution at closing.

[jerry landau]

it depends if there also carrying a second

You can always get the definciency done on the first , if they have a second that might not be the case , You will get a waiver so the house can be sold ,

[Fritz Barnes]

Good answer, that's what I was hoping would be the case. Thanks, Nick!