Deficiency Judgment
Strategic Default Options For Underwater Homeowners
Q: Do you ever address strategic default on rental property? I owe $135,000 and the property is worth only $65,000. A: Strategic default – hardly any topic in real estateReal Estate is land and anything permanently attached to it, such …
Reporting Cancellation of Debt Income to IRS
Sell a property or lose it in foreclosureForeclosure is the legal action taken to extinguish a home owner’s right and interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage …
Investing In Real Estate With Friend Leads To Problems
If you invest in real estateReal Estate is land and anything permanently attached to it, such as buildings and improvements. with friends or relatives, plan ahead. Otherwise, you may find yourself deep with problems when money is short or disagreements …
Underwater Mortgage May Lead to Strategic Default
Can honor ever exist in a strategic default or foreclosureForeclosure is the legal action taken to extinguish a home owner’s right and interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is …
Deed-in-lieu or Foreclosure on Second Home
Deed-in-lieu or ForeclosureForeclosure is the legal action taken to extinguish a home owner’s right and interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged …
Stop Paying Your Mortgage And Your Credit Score Will Suffer
If you stop paying on your mortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the loan and has the …
Strategic Default: When To Walk Away From Mortgages
A reader considers a strategic default on her home mortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the loan and …
Mortgage Lender Can Pursue Homeowners After Foreclosure With Deficiency Judgment
Q: I’m in trouble with my house. I’m heading to foreclosureForeclosure is the legal action taken to extinguish a home owner’s right and interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it …
Can You Be Sued For A Deficiency Judgment After Foreclosure?
Can you be sued for a deficiency judgment after foreclosure? Homeowners can be sued for a deficient judgment after foreclosure. Lenders sue foreclosed homeowners for a deficiency judgment after foreclosure. Underwater homeowners and foreclosed homeowners can still be sued for a deficiency judgment after foreclosure. Homeowners worried about being sued for a deficiency judgment after foreclosure should consult a real estate attorney.
Deficiency Judgment An Option For Underwater Homeowner Facing Foreclosure
Deficiency judgment an option for underwater homeowner facing foreclosure. For a homeowner facing foreclosure, deficiency judgment is an option. Best option for a homeowner underwater but current on payments might be deficiency judgment if the underwater homeowner is facing foreclosure. If the lender forecloses on an underwater homeowner’s home they may obtain a deficiency judgment to cover the cost of the underwater homeowner’s foreclosure.
