November 1, 2014

How To Avoid Deficiency Judgments After Foreclosure, Deed in Lieu or Short Sale

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As terrible as it may seem to lose your home through a foreclosure, most people believe that after the foreclosure, their biggest financial headache is behind them. However, former homeowners may still be on the hook if there’s a difference between what they owed on the mortgage and what the bank sold the house at the foreclosure auction. This is called a “deficiency judgment.”

How to avoid foreclosure

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From CNN.COM Here are some ways to cope when you have fallen behind on your mortgage payment.  President Bush signed the housing bill July 30, 2008. And while the part of the bill that allows homeowners who cannot afford their monthly payments to refinance into government-backed loans may be implemented as soon as October there’s [...]