Legal Question in Real Estate Law in Georgia

What is the likely hood of a lender coming back for repayment of negative balance owed on a mortgage after doing a short sale???


Asked on 9/25/13, 5:08 am

2 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

A short sale requires the consent of the lender, so the negotiation should include requesting a release from the balance of the loan. However, if the lender does not agree, it depends on many facts we don't have. The primary factor is whether there are assets to collect, including a possible garnishment of wages. Otherwise, it is asking for a guess.

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Answered on 9/25/13, 5:10 am
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

It depends on what you negotiate with the lender. Short sales often go VERY badly and never should be attempted without a lawyer.

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Answered on 9/25/13, 6:49 am


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