Bank of America Deficiency Judgement, New Policy on Second Mortgages

Bank of America announces changes to deficiency judgements on short sales with a second mortgage.

As part of the settlement with the Department of Justice, Bank of America’s policy on pursuing deficiency judgments for second mortgages now includes a waiver of their right to pursue a deficiency if:

  • The short sale was initiated on or after June 1, 2012.
  • The first mortgage is also by owned by Bank of America and it is “attached” to the first.

This policy became effective June 1, 2012.

If you meet these qualifications, contact a Las Vegas short sale specialist as soon as possible or request a callback.

Start your Bank of America Short Sale.

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