The interesting thing is that many letters that look clear to the untrained eye are filled with vagaries you or I could never understand. Only an attoreny that understands laws and has experience interpreting these things can offer an opinion on them that has an real substance. I work with an attorney that has taught me a tremendous amount.
The truth is there is no clear case law on deficiency judgements after short sales with non-recourse loans as nothing like this has ever happened before. Ultimately there will be one hell of a battle between attorney’s and lenders over it that will have to be litigated. Hopefully, I’ll be in rocking chair by then.
A big ole’ hat tip to poster Kingside who posted some great case law on another blog that we have been using and which could be a game changer.
