Deficiency Judgments – Another Attack on the Foreclosed Homeowner

Deficiency judgments are the lenders’ way of kicking a dead horse. You cannot pay your mortgage. The bank forecloses and sells the house. You move away thinking it’s all over. A couple of years later the banks obtains a deficiency judgment for the amount it lost. You have a new job and new assets. Guess who’s coming after you.

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