Good News for Short Sale Homeowners!

A new law was just passed that says both the first and the second lien holder on your house cannot go after you for a deficiency if they agree to a short sale.  This should enable more homeowners to short sale their homes if they were unable to get a loan modification without worrying about having to carrying a note, or the bank getting a deficiency judgement against them.  This law applies if the home is your principle residence.  This new law couple with the 'Debt Forgiveness Relief Act' basically eliminates any concerns about financial liability after a short sale.