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If you do a Short Sale in the State of New York do you have to pay back the difference of what you owe after the short Sale?

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2009-07-01 02:14:39
2009-07-01 02:14:39

The state you reside in has nothing to with whether or not you will have to pay back the difference of what you owe in a short sale. Whether or not you have to sign a note and pay back the debt is up to the lender.

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Related Questions


Some states allow deficiency judgments after the short sale. Some states allow deficiency judgments after repossession or foreclosure. Each state has its own rules.


Many realtors will sell a house as a short sale. However a short sale has to be approved by the bank first.


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From what I understand the bank has to agree to the short sale and then takes that as the mortgage paid.


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How do you get out of a second mortgage when the house has been sold on a short sale?


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