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Short Sale of property in Chap 13
If lender's waiver of its presumed recourse claim against the debtor is provided for under the "agreement" then you are correct.
Sent from my iPhone - please excuse typos.
> On Jan 12, 2016, at 3:04 PM, tuanl@stevelopezlaw.com [cdcbaa] wrote:
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> Dear List,
>
> I've seen some posts on the board regarding short sale of properties during the pendancy of a case in bankruptcy but couldn't find anything on my issue. I have debtor that has a property that is underwater on the first and second mortgage. Is my thinking correct that if the first and second agree to the short sale, then the deficiency does not go into the bankruptcy plan and is completely gone per the agreement of the first and second's agreement to take less than their entitled to?
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> Thanks,
> Tuan Le
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