Sentences with phrase «deficiency waiver»
A "deficiency waiver" is an agreement that forgives or waives a certain kind of shortcoming or lack. It means that someone is excused or not held responsible for their deficiency or failure in meeting a specific requirement or expectation. Full definition
If you are faced with losing a home or investment properties, we can explain your options for things such as deficiency waiver, short sale, cash for keys and loan mods.
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Make sure your REALTOR ® has successfully closed more than 50 short sales with full deficiency waivers.
The hour long webinar includes information on obtaining deficiency waivers for underwater homeowners and BoA's «cooperative» short sale program, modeled after the Treasury Department's HAFA program, that provides for a pre-approved sales price for homes.
Alternately, if homes are vacant or families want to move, American Homeowner Preservation offers deficiency waivers and incentive payments to cooperate with deeds in lieu or short sales in order to put the homes back into service.
Use this guide to decipher the language your lienholder used in the deficiency waiver, and find out if you owe any money or not.)
Remember that all deficiency waivers come with one exception - if they believe you committed fraud, they can rescind on the deficiency waiver.