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Does a Short Sale Result in Deficiency Debt?
Posted by AcclaimLegalService
Many homeowners seek a short sale if they are no longer able to maintain their mortgage payments or wish to step away from the property due to valuation issues. In most cases, the homeowner needs to prove a financial hardship for the bank to engage in a short sale. When the house is sold for an amount less than your mortgage, the remaining balance is known as "loan deficiency debt." The common…
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I retained representation with Acclaim Legal Services after I had previously retained representation by a different law firm. My previous attorney was never available for me to consult with them, and treated me very rudely. As a result of this treatment I decided to retain Acclaim Legal Services to…
Five years ago I was in so much debt that I couldn’t think straight. I wasn’t eating or sleeping properly. Then I lost one of my jobs (neither one was paying very much, just a bit over minimum wage). I began to be late on my house notes every month. I got into a car accident which threw me behind…
Sorry this email is a long time coming. I would like to thank you for all you did for my wife and myself. You were always very prompt and informative whenever anything was needed. Many times I was scared and worried during that difficult time. You always helped…
I would like to thank your firm especially Chris Jones and Cindy for all the help they provided in my case. Bankruptcy is not an easy thing to go through and not always easy to understand the terms and terminology that is used. Your team was extremely helpful…