We just did a short sale on our house in VA . Though first bank has forgiven the debt but the second bank has not givin anything in writing that the debt has been forgivin. We did short sale in April 2010. Can the second bank still persue us. We have never refinanced our home. Lived only 4 years in that home. Please advise.Thanks so much for responding ! But during the time of short sale our realtor told us that the second bank will not persue because a new rule have been passed in April that lenders cannot persue you after short sale for the debt. So thats fine . But am confused now . We also did 10% of the debt payment during closing to the second bank. Please advise as what should we do now as its been 2 months after short sale.