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WE ARE TRYING TO SELL HOME ON SHORT SALE. THE SHORT FALL WILL

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WE ARE TRYING TO SELL...
WE ARE TRYING TO SELL HOME ON SHORT SALE. THE SHORT FALL WILL BE 45,OOO.00 IF LENDER APPROVES. ARE WE RESPONSIBLE FOR ANY/ALL OF THE SHORT FALL AMOUNT?? PROPERTY IS IN NEBRASKA
Submitted: 1 year ago.Category: Real Estate Law
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Answered in 9 minutes by:
4/20/2016
Real Estate Lawyer: J. Warren, Lawyer replied 1 year ago
J. Warren
J. Warren, Lawyer
Category: Real Estate Law
Satisfied Customers: 2,250
Experience: Experience in residential real estate and commercial leases.
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Hello and welcome to JustAnswer. Please note:This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.I am sorry you are facing a short sale situation. Potentially yes there is liable for the deficiency (short fall) on a short sale in Nebraska. However, the bank can agree to a waiver of deficiency. This has to be negotiated between the owner and the bank. This must be in writing and is typically included in the short sale approval letter between the owner and the bank.Thank you for allowing me to help you with your questions. I apologize that this was probably not the Answer you were hoping to receive. However, it would be unfair to you and unprofessional of me were I to provide you with anything less than truthful and honest information. I hope you understand. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! Please press a positive rating above this message box in the ratings section so I will be paid for my time assisting you on this matter. Pressing a positive rating will not cost any additional money - it is simply the trigger used by Just Answer to pay me for my time (pressing the middle star or the fourth or fifth star on the right are all positive rating buttons).
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J. Warren
J. Warren
J. Warren, Lawyer
Category: Real Estate Law
Satisfied Customers: 2,250
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Experience: Experience in residential real estate and commercial leases.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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