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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 extend a special thank you to your firm, especially Cindy Millns and our attorney – they were both very helpful in this whole process very reassuring. I would recommend your firm to anyone that needs assistance!
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I truly wish that Chris and Cindy had been our legal team from the beginning. We did not know what to expect, we were very uneducated about the chapter 13 process.
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