What is a short sale deficiency?

Answer A short sale means the borrower and bank agree to terminate the mortgage if the debtor sells the home and gives all to the bank. However, sometimes the sale price of a home is less than the balance... Read More »

Top Q&A For: What is a short sale deficiency

What happens if there is a deficiency after a short sale?

A short sale allows a homeowner to sell the home for an amount that is less than the balance due on the mortgage. A law passed in 2007 may allow an individual to avoid taxes on the cancellation of ... Read More »

How to Collect on a Deficiency Judgment During a Short Sale in Florida?

A deficiency judgment is defined as, "a judgment for the amount a homeowner owes the lender after a house or other asset is foreclosed upon and sold by the creditor for less than the actual debt---... Read More »

What happens to a judgement balance in a real estate short sale in New York state. If there is no equity in the sale will the judgement be released?

In any state, Judgements are usually filed with a court. In order for the Judgement to be released, someone -- preferably the party that filed the Judgement -- must be satisfied before the Judgemen... Read More »

Short Sales & Deficiency Judgments?

A deficiency judgment is a legal document filed by a mortgage company with the court system as an order for the borrower to pay the shortage between the mortgage balance and a post-foreclosure sale... Read More »