Bank of America Approval Letter- Version 2- What Deficiency?
Alas! There is more than one version of the Bank of America approval letter. One without the dreaded “deficiency” reference. Mind you, not stating they reserve the right to pursue a deficiency may not mean Bank of America has given up that right, but it does cause less trepidation.
Here is an approval I just received for a Mary Esther Florida short sale property:
Deficiency… what deficiency? My theory – they are leaving out the deficiency reference, but not “forgetting” about it!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Destin Short Sales & Pre Foreclosure Help.
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This site, Wendy Rulnick or Rulnick Realty, Inc. is not providing legal or tax advice. The information provided is for educational and informational purposes only. It is recommended that sellers considering a short sale should consult an independent legal and tax advisor for more information.