Do I HAVE to accept a Promisory Note in my Short Sale?
By Arna Freedman, Real Estate with Profit
(eHome Real Estate)
Ladera Ranch, CA - In this business you do sometimes encounter very stubborn lenders who are adamant about collecting on what they believe to be "rightfully theirs" These lenders are usually the ones that homeowner got their original loan from. Good examples of such lenders include small community banks or local credit unions. Private mortgage insurance company loan makers tend to be rather difficult to deal with on many occasions, and in Ladera Ranch they play hardball. These you see are the companies that negotiate the hardest, and the toughest, They insist that they won't accept or approve a short sale without a promissory note. And although they don't like to budge, there are occasions when they will. In order to convince them to waive the deficiency you will have to come up with ...
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