promissory note: Will I have to sign a promissory note when I short sale my home? - 12/23/10 11:49 AM
The answer is possibly depending on your lender.  However it is something that can be negotiated.  Depending on your situation, most lenders have not been requiring them.  My experience is if you have mortgage insurance you have a higher chance of you lender requiring a promissory note...well actually your mortgage insurance carrier requiring it.
Other situations requiring it would be if the appraised value of your home is much higher than what the offer is.  If you are selling your home for $120,000 and the appraisal your lender did comes in at $150,000 they may be willing to sell it if … (1 comments)

 
Jamie Batte, Short Sale Specialist (Short Sale Specialists)

Jamie Batte

Short Sale Specialist

Medford, OR

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Short Sale Specialists

Office: (541) 890-1089

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