Originally posted by Mitch Freed:
These are trust deeds...there is no deficiency judgment in Oregon.
Does RTR know that? It might be worth while to get that written law section and send it to them, with your letter. In these situations, I find submitted in writing goes a lot father than verbal conversations.
Do you have a closing attorney? Have them write a letter regarding the legal rights etc for you to send. This way, they are not just taking your word for it.
Remember, the negotiator is someone that has been working collections for a credit card co for the last few years, if they have that much experience. They might own their first home, and have no idea what the numbers actually mean to someone losing their house.
But, at the end of the day, if the negotiator knows in the the state of Oregon, they can't come after the buyer, then they should settle. At this point, push as hard as you can. They already said no. What can they do say no again? And again? Then it gets foreclosed, and they get ZERO?
Shoot, if they fight for the deficiency, I would probably sue them back for not accepting a short sale that ruined the seller's credit for 7-10 years.
They can accept the short sale, release the lien, and reserve their right to pursue the deficiency as allowed by law.
Send it all in writing. When they push your sellers, (if this doesn't pan out) then faxes are recorded in the file, and can be brought to court.
The seller's might have some money to push them back in court by then. Or their may be a class action suit....
They are coming.