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my bank has offered me a deed in leau. they also said they…

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my bank has offered me...
my bank has offered me a deed in leau. they also said they would give me 10 grand after. my main conceren is that they can come after me for the difference. i've asked the law firm and the bank and they both said they will not come after me for the difference. if they sell the loan off, can the invester they sell to come after me? the bank i'm dealing with is wachovia. i'm very concerend if i do this someone will come after me a few years from now to recoup their loss. they bank has told me several times that nobody will come after me but I'm a little skeptical.
Submitted: 8 years ago.Category: Real Estate Law
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Answered in 1 minute by:
6/19/2010
Real Estate Lawyer: lwpat, Attorney replied 8 years ago
lwpat
lwpat, Attorney
Category: Real Estate Law
Satisfied Customers: 25,387
Experience: Practicing attorney with expertise in easements
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You simply need to get it in writing that they are waiving any deficiency judgment. That is all you need and they will be forever estopped from coming after you.
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Customer reply replied 8 years ago

 

but what if they sell the loan off. can the company they sell to come after me. the bank has already gave me in writing they won't come after me with a deficiency judgement. im just worried about who they sell the loan to if they do that.

Real Estate Lawyer: lwpat, Attorney replied 8 years ago
If they sell it off the new company is still bound by that agreement. Therefore no one is going to buy it.

An accept for my time is always appreciated

Edited by lwpat on 6/19/2010 at 5:52 PM EST
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