Topic: Definition of Deficiency Judgment
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How to Collect a Deficiency Judgment
If a home owner stops paying the mortgage on his property, it will go into foreclosure. The bank will repossess the mortgage and try to sell the property, but if a sale does not produce enough funds to cover the remaining balance on the mor... Read More »
Source: http://www.ehow.com/how_7806754_collect-deficiency-judgment.html
How to Avoid a Deficiency Judgment
A deficiency judgment occurs when the lenders foreclose on a home and the proceeds are not sufficient to pay off all of the loans. The amount still owed is the deficiency. Lenders then file a lien called a deficiency judgment which will con... Read More »
Source: http://www.ehow.com/how_6397650_avoid-deficiency-judgment.html?re...
How to Prevent Deficiency Judgments
Try to work out a practical solution with the lender as early as possible by avoiding foreclosure to prevent deficiency judgments. Many times mortgage lenders will do a loan modification, extend the amortization to lower mortgage payments o... Read More »
Source: http://www.ehow.com/how_5957428_prevent-deficiency-judgments.html
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Definition of Deficiency Judgment
(n.) Judgment in favor of a creditor who has not satisfied the full amount of a claim against a debtor
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Answers to Other Common Questions
A deficiency judgment is a monetary judgment against a debtor whose total mortgage debt was not satisfied in foreclosure. It is a legal process in which the bank redeems a home after the borrower has defaulted on his mortgage. When a defici...
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Source: http://www.ehow.com/how_7596640_avoid-deficiency-judgment-foreclo...
Key to a lender's decision to follow the judicial foreclosure path and seek a deficiency judgment are a few factors. An obvious one is the ability of the borrower to pay off a judgment. It the borrower lacks the financial resources to pay a...
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Source: http://www.ehow.com/how_6532918_effects-foreclosure-california.ht...
A deficiency judgment is where the owner of a mortgage or deed of trust is awarded a judgment against the borrower in the amount of: the amount of money owed in the mortgage or deed of trust minus the amount of money the property sold for a...
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Source: http://wiki.answers.com/Q/What_is_auto_deficiency_judgment_in_ca
its where your home was foreclosed on and whatever it sold for was less then what you owed you could have to pay the remaining balance
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Source: http://wiki.answers.com/Q/What_is_deficiency_judgment_in_Maryland
A deficiency judgment is a public record that appears within your credit history. Deficiency judgments often occur after a home foreclosure or a vehicle repossession and have a negative effect on your credit score.
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Source: http://www.ehow.com/facts_5712060_long-judgments-remain-credit-re...
A deficiency judgment is defined as, "a judgment for the amount a homeowner owes the lender after a house or other asset is foreclosed upon and sold by the creditor for less than the actual debt---mortgage or car loan, for example---that is...
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Source: http://www.ehow.com/how_6829959_collect-during-short-sale-florida...
