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ok no forgiveness like others here, only hav date of acquisition, balance of principle of outstanding, balance of outstanding, and fair market value, my question is my lender will not talk to me and the property was sold back to the bank that gave me the loan for it, so what do i do?

jameshogg · Posted: Thu Feb 03, 2011 9:49 pm Post subject:

Hi sparks,

I guess you're responsible for paying back the deficient balance to the lender if the lender has sold off the property for a lower amount. In case, the lender sold off the property for a higher price, then he will pay back excess amount to you.

Thanks

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