According to experts, a new rash of foreclosures will emerge this year due to prolonged unemployment which makes it difficult for millions of homeowners to pay their mortgages. In addition to that, a lot of them aren’t likely to obtain adequate help from a federal program which would help them at keeping their houses. Banks [...]

One of the reasons homeowners is anxious of being sued by their bank for a deficiency judgment after facing foreclosure is that almost any lawyer they contact will bring up this possibility. Some attorneys may even use the threat of added legal action after foreclosure as a reason to file bankruptcy in advance or else [...]

If you’re thinking if a borrower can still owe money to their bank even after they lose their home in a foreclosure or short sale, the answer is Yes. You can still apply for a mortgage even after surrendering your house to the bank. We are all aware that the year 2008 has been a [...]

One of the reasons homeowners is anxious of being sued by their bank for a deficiency judgment after facing foreclosure is that almost any lawyer they contact will bring up this possibility. Some attorneys may even use the threat of added legal action after foreclosure as a reason to file bankruptcy in advance or else [...]

If you’re thinking if a borrower can still owe money to their bank even after they lose their home in a foreclosure or short sale, the answer is Yes. You can still apply for a mortgage even after surrendering your house to the bank. We are all aware that the year 2008 has been a [...]