Topic: What Happens with Deficiency Judgments
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Answers to Common Questions
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
More Common Questions
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
When one party in a court case believes the facts of the case are so clear and conclusive that there's no work for a jury to do, they motion for judgment. This can occur in civil and criminal cases. Judges are very careful about granting su...
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Source: http://www.ehow.com/info_8090467_happens-motion-judgment.html
A court judgment grants certain legal rights to the person on whose behalf the court issues such a judgment. The party against whom the court issues a judgment may experience such consequences as having the judgment placed on her credit rep...
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Source: http://www.ehow.com/info_8057053_happens-court-judgment.html
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...
