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Q: Can you negotiate the deficiency balance that you will repay with the law firm representing the lender?
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Related Questions

Does it help your credit if the lender agrees to accept a lesser amount than owed on a repossession balance?

It helps your pocket but NOT your CR. The repo is still there unless you negotiate with the lender to remove it also.


Can a lender file Deficiency Judgment in Indiana?

Yes, a lender can file for a deficiency judgment in Indiana. The court has to approve the judgment in order to prosecute.


Approximately how long after your car is repossessed do they come after you for the deficiency?

As soon as the lender sells the car, they will know what the balance due is. Then they will come after the money. You will know when that happens.


Can a creditor sue you for a deficiency balance in the State of Oregon?

Yes. The lender can sue you also for fees, costs, and penalties incurred in the attempt to recover the debt.


If a lender is already in bankruptcy can they still file a deficiency judgment against you in the state of Florida?

Unclear whether the deficiency would be filed by the lender or by the trustee of the bankruptcy estate.


Can auto repossession be negotiated?

The company repossessing the car has no authority to negotiate terms with you. They are simply there to repossess the car. You must negotiate with your lender. Hopefully, you will do this before the the repossession order is submitted by the lender.


What if you win lottery and stop paying mortgage?

The lender will take possession of your property by foreclosure. It will then sell the property and will pursue you in court for any deficiency and legal costs.The lender will take possession of your property by foreclosure. It will then sell the property and will pursue you in court for any deficiency and legal costs.The lender will take possession of your property by foreclosure. It will then sell the property and will pursue you in court for any deficiency and legal costs.The lender will take possession of your property by foreclosure. It will then sell the property and will pursue you in court for any deficiency and legal costs.


Can the lender sue for deficiency in NV?

Yes. And read your loan agreement.


Does Pennsylvania have an anti deficiency law?

Lender must file for a deficiency action within six months of completion of foreclosure.


How can you negotiate with your second mortgage lender to take a small lump sum payoff?

"How Can I Negotiate With My Second Mortgage Lender to Take a Small Lump Sum Payoff" is an article available on the SFGate Home Guides section which explains in detail how to do just that.


What can you do if you lost your job and your car was repossessed about 2 months after you purchased it?

Pay it. negotiate with the lender for reduced payoff.The lender can get wage garnishment.ect. They will hound you till you pay.


How does it affect your credit or obligation if your repossessed vehicle was stolen from the lienholder?

The repo will effect your credit. The judgment the lender will get will effect your obligation to pay the deficiency balance. the letter wont effect anything UNLESS the car WAS stolen.


Can you file a chapter 7 bankruptcy if a lender files a personal judgment for deficiency?

Yes


How can a contract be changed in a housing loan?

You will have to negotiate that with the lender. It may require a new loan on the property.


Can a lender put a lien on your current house for the old house if the old house is foreclosed?

No. Not unless the lender sues you for the deficiency and wins a judgment in their favor.


How do you avoid deficiency judgments in lee county Florida?

You can avoid the laws if your lender agrees not to press charges for deficiency. You can also file for a chapter 7 bankruptcy.


Can a lender come back after 2 12 years to get what they say is the balance with no contact all that time?

If the lender has a judgment for the balance due, yes.AnswerNo not if they haven't sent you something at some point letting you know what the balance due is and how they arrived at it.


How do you find out your car loan balance?

Contact your lender they will tell you.


If you default on your car loan can they take your away your pension?

Not right away.Generally:The lender has a reposession company pick up the car and take it to an impound yard.The lender has the title changed to their name.The lender sell the car to a wholesaler, usually for the wholesale book value.From the proceeds the seller recovers the legal fees and the reposession fees. The balance of the money is credited to your account.Now the lender comes after you for the rest of your account balance. The can:Negotiate with you and settle for part of the money.Get a collection company to recover as much cash as they can from you.Take you to court and now the court can garnish your pension to pay off the debt.


What will happen if you tear a structure down with a mortgage?

You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.


Can lender pursue deficiency judgment for the difference after a short sale?

Some states allow deficiency judgments after the short sale. Some states allow deficiency judgments after repossession or foreclosure. Each state has its own rules.


What are the short sale deficiency judgment laws in Pennsylvania?

When a lender forecloses on a mortgage, the total debt owed by the borrower to the lender frequently exceeds the foreclosuresale price. The difference between the sale price and the total debt is called a "deficiency."Example. Say the total debt owed is $200,000, but the home only sells for $150,000 at the foreclosure sale. The deficiency is $50,000.


Once the lender sell you car do you still owe the balance?

You owe the difference in what the car sells for and the balance on the note.


How do you get a lender to remove late payments from your credit report?

You can contact the lender and ask to have the late payment removed. They might remove it if you have had a good payment history in the past with them. You could also negotiate to pay off the balance to have it removed.You can send dispute letters to the credit bureaus asking for verification on the account. If the account is not verified with in 30 to 45 days it must be removed.


Can the private mortgage insurer sue the homeowner for the deficiency it pays to the lender after a foreclosure?

Yes, the private mortgage insurer can sue the homeowner for the deficiency. They can get a judgment against the home owner for the difference.