I?ve got an approval letter for a short sale. In the letter the bank wrote that it will notify the credit bureaus that the loan ?was paid in full with less than full balance?. It also said that ?Compliance with the Demand Statement coupled with release of the mortgage shall waive the bank?s right to seek a deficiency under the loan documents or any of its other rights there under, and the
obligations evidenced by the note?. Does that mean that I will be released from the liability? (I?m located in Georgia if that makes any difference).
Source: http://www.lawguru.com/legal-questions/-/approval-letter-short-sale-bank-143089161/
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