QUESTION
Can the bank come after me for the rest of the laon if it was abandoned?
Asked on Oct 23rd, 2011 on Bankruptcy - New York
More details to this question:
My house went through a short sale. The bank released loan and declared rest of loan abandoned. What does that mean? Can they come after me for the rest of the loan?
1 ANSWER
If the loan is released and abandoned, then you no longer are liable to pay the remainder of the loan. You should, however, make sure you keep a copy of this release if it comes up in the future.
Answered on Oct 28th, 2011 at 12:13 PM
Seth D. Schraier, Esq. Law Office of Seth Schraier 3647 Broadway Suite 4G New York, New York 10031 Cell: (914) 907-8632 www.SchraierLaw.com