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Topic History of: Does a Short Sale Remove all Debt?
Max. showing the last posts - (Last post first)
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nic Thats good to know. I will make sure that we review all the papers prior to signing. If the bank is to hold her harmless, it should be spelled out in the papers.

Thanks for your help.
Micky B Check the language of the short sale. Usually, you have to truthfully declare all assets and liabilites and if the bank approves the short sale, then they will hold you harmless for the deficiency, if any.

I would hire an attorney to review the paperwork. That way this there no worry.

In fact, i believe that when they do a short sale they dont even 1099 you for the debt foregivness,

Micky
nic If a bank agrees to short sale a house, does that mean that they cant go after your other assets. Thats what the realtor told my girlfriend.

I just wanted some professional legal advice.....for free of course
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