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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 would like to reach out and express my thank you and gratitude to Alisha Goguen.
I would like to start by saying that I am a proud individual that due to life’s crazy path, lead me to needing assistance with a matter that was beyond my scope. As hard as it is to have to file a bankruptcy,…
I am a hard working and proud individual. So when I came to the realization that I might actually have to file bankruptcy, it really ran against everything my parents ever tried to instill in me. I have to say that I was embarrassed and a bit ashamed. However being a realist, I contacted your firm…
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…
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…