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 [...]

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 [...]

Mortgage deficiencies are experienced by some homeowners when they go through a short sale or foreclosure of their property. This refers to the difference between the amount that the house was sold for and what you owe the bank. In such cases like you owe your lender for a home that you no longer own, [...]

As terrible as it is to lose your house to foreclosure, at least it’s a relief to put your biggest financial headache behind you, right? Wrong. Former homeowners may still be on the hook if there’s a difference between what they owed on their mortgage and what the bank could sell it for at auction. [...]