Paid only $4,000.00 on a $120,000 recourse loan no futher collectons.

**loanrecourse** · 12-03-2010, 05:57 AM

We have negotiated many recourse loans with tremendous succuss. When the bank asks for a settlement please remember that they are settling. In my experience it is better to take the offer instead of disputing it. A previous client was offered a fantastic gift of a $4,000.00 settlement of a $120,000.00 loan and almost destroyed the negotiation by challenging the bank! The bank could have reconveyed the deed and went after my client for the FULL AMOUNT. Please be thankful! A short Sale or Settlement is truly a gift.

**loanrecourse** · 12-03-2010, 05:58 AM

What is a Recourse Loan?
Recourse loans mean lenders are give power. They can and are allowed to come after you for money that you owe

**loanrecourse** · 12-03-2010, 05:59 AM

Underwater on your mortgage? Facing foreclosure? Avoiding foreclosure through a short sale can have many benefits for your future financial stability. I created this site to help spread the word about the options to avoiding foreclosure, and a short sale has many benefits. A successful short sale can reduce the damage to one