foreclose on homes
if the bank sells your house and they take a loss, can they file a deficiency judgement against the home owner?
Re: foreclose on homes
The key to the lender getting a deficiency judgment after a foreclosure is the lender filing for a confirmation of the sale within a 30 day window following the sale. Some out of state mortgage lenders are not aware of this, and the opportunity to proceed to a deficiency judgment evades them because they overlook this step. Since you have apparently been foreclosed on - and may not be easily located for service of notice of the confirmation - you should look in the records of the Superior Court of the county where the property was located to see if a confirmation action has been initiated. If the lender misses the 30 day window, their opportunity is gone.
Re: foreclose on homes
The key to the lender getting a deficiency judgment after a foreclosure is the lender filing for a confirmation of the sale within a 30 day window following the sale. Some out of state mortgage lenders are not aware of this, and the opportunity to proceed to a deficiency judgment evades them because they overlook this step. Since you have apparently been foreclosed on - and may not be easily located for service of notice of the confirmation - you should look in the records of the Superior Court of the county where the property was located to see if a confirmation action has been initiated. If the lender misses the 30 day window, their opportunity is gone.
