Sentences with phrase «deficiency judgement against»
This means a lender can't collect a deficiency judgement against the homeowner.
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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.
If your foreclosure took place on or after July 1, 2013 the creditor has to file their deficiency judgement against you within 1 year.
Not exact matches
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.