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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Get a hold harmless agreement for the apartment owner... Posted by Ward-CA- on November 28, 2003 at 8:45 PM In Reply to: How To Get A Recourse Loan Waived? posted by Narm on November 28, 2003 at 2:26 AM : I'm helping an apartment owner who's going into foreclosure. His loan is a recourse loan. I'm doing short sales and the difference that the bank suffer from discounting the note would effect the owner so I wonder how the bank would go about collect the difference of the loan. Can be get the bank to waived the recouse line for owner once the bank accepts short sale. If so, what are the procedures. Any good advice is greatly appreciated. ============= Narm, Make it a condition of the short sale that the apartment owner is held harmless from any loan deficiency suffered by the bank. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I'm helping an apartment owner who's going into foreclosure. His loan is a recourse loan. I'm doing short sales and the difference that the bank suffer from discounting the note would effect the owner so I wonder how the bank would go about collect the difference of the loan. Can be get the bank to waived the recouse line for owner once the bank accepts short sale. If so, what are the procedures. Any good advice is greatly appreciated. : ============= : Narm, : Make it a condition of the short sale that the apartment owner is held harmless from any loan deficiency suffered by the bank. Optional Link URL: Link Title: Optional Image URL: [ 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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