The Welcome Relief of Green Screens Jul 17, 2008
However, it is safe to say that avoiding foreclosure and any deficiency judgment will go a long way in terms of protecting your score and allowing it to heal as quickly as possible. When someone is facing foreclosure, the thought of buying another home is likely the furthest thing from their minds. (Human Events Online)
Trust Deeds, Mortgages, Contracts, Warranty Deeds: What are They? May 22, 2008
", "Great," he exclaimed. I really am stymied by the words and I really like the four-plex and want to buy it. Mimi pulled out her glossary and shared it with Charles. "First of all there is a distinction to be made between financing instruments and ownership instruments," she commented. Financing Instruments Mortgage A mortgage is a document created where by one party pledges to another party as a security for obligations owed to that party. A promissory note is normally executed at the same... (RealtyTimes)
Real estate chat Mar 26, 2008
If the lender agrees to a short sale, you could be saved from the lender seeking a deficiency judgment for the amount between the sales proceeds and the amount you owe. The lender is also trying to prevent from having to incur additional expense of taking your home through foreclosure and selling it themselves. (The Palm Beach Post)
Local housing crisis Feb 19, 2008
This results in a deficiency for which the lender can seek a deficiency judgment through the courts. Any judgment could prevent you from seeking financing until the judgment is satisfied, either being negotiated or paid in full. (The Palm Beach Post)
Tips on avoiding foreclosure Apr 15, 2007
If your property is worth less than the total amount you owe on your mortgage loan, a deficiency judgment could be pursued ... Both foreclosures and deficiency judgments could seriously affect your ability to qualify for credit in the future. (The Clarion-Ledger)
Ask George & Chuck: Questions from Consumers Apr 10, 2007
The lender is also precluded from obtaining a deficiency judgment from the original borrower after a properly conducted foreclosure sale. Question (NY): I immigrated to the United States in 2002 and started filing my IRS returns. (RealtyTimes)
Mortgage advice:Stick with fixed rates Mar 29, 2007
The bank could theoretically go after you for a deficiency judgment, but that is obviously not going to happen if they MADE money on the deal, and it is probably not worth their time or trouble anyway. You need to talk to a lawyer on this, and even then you may see a lot of hand-waving. (The Palm Beach Post)
Can This Investor Be Saved? Mar 27, 2007
If he just lets them all go to foreclosure what are the chances for him to have deficiency judgments against him ... If he just lets them all go to foreclosure what are the chances for him to have deficiency judgments against him ... I have spoken to brokers around the country about deficiency judgments and while suits against borrowers are surely possible they seem to be rare. (RealtyTimes)
Phoenix wins foreclosure action; major step in reopening hospital Feb 13, 2007
McDonald said the foundation would not seek a deficiency judgment against Ayers. Stewart said he had no objection to McDonald's motion, and Judge Sutton granted it with little fanfare. (Carmi Times, IL)
Real estate trends make appraisals difficult Jan 5, 2007
Homes in pre-foreclosure often are sold at steep discounts because the seller would rather give up his property than face a deficiency judgment or bankruptcy. While it appears that the worst of the mortgage fraud epidemic may be behind us, the scam has left a legacy of artificially inflated prices in many neighborhoods. (Atlanta Journal-Constitution)
Even optimists aredown about 2007 Dec 22, 2006
Not least it will make it almost impossible for a large group of people to freely move about because even if they can afford to make their mortgage payments, they won t be able to afford to sell their houses without a deficiency judgment and the resulting credit stigma (which in my view is better than taking a $60,000 after tax hit to assets on an income of $25,000 a year). The larger economic and social effects of this bubble will be very different than the last. (The Palm Beach Post)
Ask Realty Times Dec 8, 2006
According to with the Berkshire Group in the metro Denver area, lenders "may pursue a deficiency judgment, but usually do not.". "In Colorado," says Hagner, "the public trustee sells the property, the lender is required to bid, if the lender fails to register a bid, the sale is continued for at least one week. After the sale the owner has 75 days to redeem the property by paying all the fees in full.". (RealtyTimes)
