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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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First of all, we would like to thank you for all you guys have done. I appreciate the honesty, dedication and passion that you guys exhibited towards our case and answering my questions in a fast and complete manner. Given the situation, I know now I made the…
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