Video 46: Can the bank come after you for the difference in my short sale price and the mortgage amount? Maybe, first it depends what state you are in. Arizona has a anti-deficiency law which does not allow the bank to come after you. BUT they can work in language into your short sale acceptance to change that. Make sure you understand every word of the final acceptance on your short sale that you sign. I would love to hear your thoughts or any questions you may have about short sales, you can leave a comment or e-mail me Dean Ouellette.
{ 1 comment… read it below or add one }
Dean,
If an owner has a HELOC, the lender can usually go after you for the difference…even in Arizona.
Doug