House included in Chapter 7, mortgager wants us to do a short sale(have an offer). We will not sign there form which states we are responsible for any losses or damages, and our realtor asked them to re-vamp their form stating the opposite. This was their response:
" Our financials cannot be altered as I carefully explained to him, including the fact that there is similar language in his note and deed of trust. Bank will not comply with his request for such a letter."
Do we need to worry here, or are we OK to let it forclose and owe nothing? We decided it was best to let the house forclose, but for the bank to turn down our request when the offer was $10,000 more than the asking price makes us worry that they can get us for something. Current status with the courts on the house is "order of sale issued" with local sheriff's.
The mortgager told my husband that just because the the house was included in Ch. 7, doesn't mean we would owe nothing, and 99% of the time, they will not come after us (if we were to sign their form) because it would cost them alot of legal fees to do so.
" Our financials cannot be altered as I carefully explained to him, including the fact that there is similar language in his note and deed of trust. Bank will not comply with his request for such a letter."
Do we need to worry here, or are we OK to let it forclose and owe nothing? We decided it was best to let the house forclose, but for the bank to turn down our request when the offer was $10,000 more than the asking price makes us worry that they can get us for something. Current status with the courts on the house is "order of sale issued" with local sheriff's.
The mortgager told my husband that just because the the house was included in Ch. 7, doesn't mean we would owe nothing, and 99% of the time, they will not come after us (if we were to sign their form) because it would cost them alot of legal fees to do so.
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