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Deed of Lieu

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rhenry34 Joined: 07 Apr 2011 Posts: 1 1.26 Dollars($)	Posted: Thu Apr 07, 2011 9:22 pm    Post subject: Deed of Lieu Like 0 Dislike 0 The bank has written in approval contingent upon receiving a properly executed and notarized promissory note. and reserve the right to collect the full amount. Does this sound right?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Thu Apr 07, 2011 11:28 pm    Post subject: Like 0 Dislike 0 Hi rhenry! Welcome to forums! The bank has the rights to collect the full amount. However, if the lender does not receive the full amount after the deed in lieu sale of the property, then he won't be able to come after you for any deficient amount resulting from the property sale. Feel free to ask if you've further queries. Sussane

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