Legal Question in Credit and Debt Law in Utah

We are short selling our house and want to make sure that our mortgage company forgives the difference of the loan on our 1st and our 2nd mortgages. What do I need to have them sign to legally bind them to never be able to come after us to collect the debt?


Asked on 5/06/11, 8:36 am

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

That decision belongs to the mortgage companies. It is not likely that either will sign anything. However, right now most mortgage companies are not pursuing deficiency judgments, but that can change.

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Answered on 5/10/11, 7:51 pm


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