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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] The possible versus the probable... Posted by Ward-CA- on April 24, 2008 at 5:16 PM In Reply to: mort. debt reliet act and deficency Judgements posted by Mark Ackrich on April 24, 2008 at 10:41 AM Mark, Yes, the possibility of a lender going for deficiency judgments against all their borrowers-in-default in HI exists. BUT the probability that any sane lender will actually spend their precious time and money trying to get blood out of such turnips is almost non-existent. ------------Ward =============== : Aloha from Maui Ward : I am a real estate broker in Hawaii and have a client wanting to sell : their condo by way of a short sale : Their lender told them that if there was a deficency they would : be responsible for the short fall : I understand that the mortgage debt relief act would allow them : to avoid taxation on the deficency but what about their issues with the lender : Confused on Maui again? Follow Ups: Re: The possible versus the probable... Mike 6:22 AM, 04/25/08 (2) So, sequester your assets to avoid follow-up scavengers... Ward-CA- 8:21 AM, 04/25/08 (1) Re: So, sequester your assets to avoid follow-up scavengers... Mike 8:42 AM, 04/25/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Mark, : Yes, the possibility of a lender going for deficiency judgments against all their borrowers-in-default in HI exists. BUT the probability that any sane lender will actually spend their precious time and money trying to get blood out of such turnips is almost non-existent. : ------------Ward : =============== : : : Aloha from Maui Ward : : I am a real estate broker in Hawaii and have a client wanting to sell : : their condo by way of a short sale : : Their lender told them that if there was a deficency they would : : be responsible for the short fall : : I understand that the mortgage debt relief act would allow them : : to avoid taxation on the deficency but what about their issues with the lender : : Confused on Maui again? [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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