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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 along with my husband would like to thank our attorney and Acclaim Legal Services for their outstanding service during our Chapter 13 bankruptcy. Stacy was able to push our home modification through smoothly and rapidly after failed attempts by my husband and me to work with our mortgage company…
We just received our discharge on our Chapter 13 bankruptcy today. I want to thank the staff at Acclaim for all the help given during the past 3 years. Everyone I have dealt with was very knowledgeable and gave concise answers to my questions and in timely manner.
Acclaim Legal Services staff was outstanding! Turnaround time was usual within 24-36 hours in response to a question! The Attorneys give you good advice and really care about their clients! High recommendation given!
My wife and I would like to thank you for your assistance in handling our bankruptcy. Believe me, it was very hard to admit that we had a serious financial problem. Thanks to the professionalism of all your staff, we have been able to overcome our embarrassment…