However depending on the approval letter that the lender provides the seller and what it states determines what happens next. If the lender does not state that they preserve their right to pursue a dificiency judgement (or similar language) , then that is interpreted as a full release. Bear in mind there are other options eg. the lender may require an unsecured promissory note as a condition to release the lien (mortgage) or may even release the lien (mortgage) but keep the note. Bottomline in a short sale the approval letter determines what could happen after the sale. Hope this makes some sense http://www.sellmypbchomes.com
This is not legal or any other advise.
and surrenders the same as canceled" as our JPMChase Martin County FL filed satisfaction says,
then the NOTE is "included".
It also states: "and cancel the same of record"..............our lawyer says "same" includes both Note and Mortgage.