Legal Question in Real Estate Law in Massachusetts

I am in a short sale process in Massachusetts. Is there a time period I should wait to purchase a new property that would ensure the bank will not try to take the new property as repayment for the short sale?


Asked on 2/12/12, 2:54 pm

1 Answer from Attorneys

First, until you get the consent of the bank to the short sale, it would not be wise to attempt to buy a new home.

Second, whether the bank comes after the second home will depend upon the terms of the short sale. If you owe them money on a note post short sale, then the terms of the note will govern their rights to lien the new home. If they give you a release of the note balance, then I would complete the sale before closing on the new home and require an agreement discharging the balance of the note.

Good luck

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Answered on 2/12/12, 7:43 pm


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