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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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My wife and I would like to thank Acclaim Legal Services for all their expertise and support. Special thanks to Brian Rodriguez, Cindy Millns and Leanna Sikes who have been so supportive in this most difficult time in our lives regarding Chapter 13 and our set of rather severe circumstances.
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William Johnson’s Acclaim Legal Services is one of those nice surprises in life. They take complete control of your situation and show you exactly the steps you need to take to have the best favorable…
Just wanted to thank you for all your help settling our deficiency with the bank.
After finding out the bank wanted us to pay the difference between what we owed them on the house and what they sold it for, I didn’t know which way to turn…the thought of possibly loosing our building kept…
It's pretty scary when you find yourself at the doorstep of bankruptcy but with the help of these great attorneys and paralegals walking every step with you, it's not so bad. I would like to give a great big shout out to Leanna Sikes who was an enormous help to me when things seemed to be going south.…