Sentences with phrase «deficiency judgement»

Here's a great resource that lists the state by state deficiency judgement laws, since every state is different.

Vacation homeowners who live in states that don't allow deficiency judgements aren't exactly safe.

North Carolina allows lenders to pursue deficiency judgements.

The other options others have been talking about on here short sales, deed in lieu, and such are other possible solutions, if you don't need or want the home any longer and remember with those you do run the risk of deficiency judgements.

Make sure you get it setup as 15 deals and make sure that they wave the right to deficiency judgements in cases of default and deed in lieu of foreclosure.

More often than not, the bank will be willing to cut its losses from the difference in the amount that was paid and the amount of the loan than go through a costly deficiency judgement litigation.

Easing and speeding up the process has been accomplished with 1) eaisier standards for SS hardship and 2) eliminating deficiency judgements.

Connecticut allows deficiency judgements, which is when a lender wishes to redeem the full debt.

In the case of a judicial foreclosure (which is very rare in California residential real estate) there is a chance a judge would issue a deficiency judgement, but this too is rare and could be discharged in bankruptcy.

It is just that many do not bother going to court to obtain a «deficiency judgement», as they're known.

Foreclosed homeowners who have become severely cost burdened renters are hit from three directions: Losing their equity, spending unsustainable portions of income on housing, and having a deficiency judgement against them for the mortgage balance after foreclosure or short sale.

The current lender must execute a non-recourse agreement stating that it will not pursue a deficiency judgement against you after the refinance loan closes.

Helps the seller erase a deficiency judgement?

Sold home must not require a deficiency judgement for the amount sold short.

I'm just afraid of a deficiency judgement and / or proving hardship.

However, some lenders will still pursue a deficiency judgement and collect the unpaid amount from the seller after the Loxahatchee short sale.

Helps the seller erase a deficiency judgement?

If your foreclosure took place on or after July 1, 2013 the creditor has to file their deficiency judgement against you within 1 year.

This means if your house sold at auction below the amount you owe on the note, you could be liable for the full amount if the court approves a lender's request for a deficiency judgement.

If your foreclosure happened before July 1, 2013 then your creditor has 5 years to file that deficiency judgement against you or prior to July 1, 2014: whichever comes first.

In the past few years there have been a number of court cases pertaining to deficiency judgements.

Nevada allows deficiency judgements, which is when a lender files a lawsuit to recover the difference between the foreclosure sale price and the total debt.

This means a lender can't collect a deficiency judgement against the homeowner.

However, with a judicial foreclosure, a lender can get a deficiency judgement which allows the lender to pursue the full mortgage amount from the borrower.

A deficiency judgement is where the bank gets a judgement against you, the borrower, for the remaining funds owed to the bank on the loan amount after the foreclosure sale.

In the case of a judicial foreclosure (which is very rare in California residential real estate) there is a chance a judge would issue a deficiency judgement, but this too is rare and could be discharged in bankruptcy.

This means if the house sells at auction for less than the amount owed on the loan, the lender can try to get the remainder from the borrower with a deficiency judgement.