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Housing News
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Benjamin Ficker
May 3, 2011 at 12:32 am
I was told early on to request for confirmation of the 1099 because if they ever did pursue for deficiency, and you ended up in a lawsuit, it could prove to be ambiguous on the banks intentions and get the deficiency thrown out. We've never actually had to go that far though, so who knows how that would play out.
MH for Movoto
May 3, 2011 at 11:54 am
Not sure what the current legal standing on this is in California, but I agree with this bill 100%.
Joe Loomer
May 4, 2011 at 3:11 am
Hmmm, I was under the impression that an Indianapolis (may have the city wrong) lender was actually buying toxic mortgages, offering short sales, selling the homes, and then actually recouping the loss in bailout funds from the government – thereby actually making a killing off of the bad mortgages which would have defaulted anyway. Predators come out when opportunity knocks. The housing boom gave birth to predatory lender growth, the housing bust is just changing their stripes.
Navy Chief, Navy Pride