We’ll Sue You Too . . .
April 14th, 2010 . by Jon ModeneForeclosed?
Short-sale complete?
As I wrote earlier, Ohio has a 2 year time frame for mortgage holders jilted by borrowers to come and try and collect.
My supposition after attending a couple of national REO meetings is that the banks are planning on using this power to get more money from former homeowners.
Unless, of course, you are sick with cancer.
And suing your former borrower generates a lot of bad press.
Remember – if you are in a short sale situation make ABSOLUTELY SURE you are not responsible for any money owed. In writing. With your attorney approving.
If you are in a foreclosure situation . . . know your rights and your obligations. Try to short sell it and use the negotiations in that process as a lever to get the bank to release your contingent liability.
Or else you have to develop cancer to get the bank to be nice.














