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Yes, it is.
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Is South Carolina a deficiency judgment state?
Yes
What are the deficiency judgment laws in Indiana?
If there is an agreement and an applicable waiting period is not waived, a deficiency judgment may be obtained on a mortgage in Indiana. This means that deficiency judgments in the state of Indiana are allowed by state statute if it is authorized by loan documents and if borrowers do not waive applicable waiting period.
Does the state of Illinois allow mortgage companies to sue for a deficiency judgment after the foreclosure?
yes
Can a judgment be placed on you due to a deficiency in a repossession?
Yes, the lender can file suit for the outstanding amount and if they receive a judgment they can execute the judgment in the manner in which the laws of the judgment debtor's state allow.
What are Colorado's laws regarding deficiency judgments after a non-judicial foreclosure?
Colorado is a full recourse state. Creditors may pursue a debtor for a deficiency judgment for 20 years after the debt was incurred. Moving to another state could result in the creditor domesticating the deficiency judgment and then the new state's statute of collection limitations would apply.
If you filed bankruptcy and are now facing foreclosure can the bank get a personal deficiency against you?
Yes, if the state and loan documents allow for a deficiency judgment, the bank can sue for one after the home has been sold at the sheriff sale and there is a deficiency. If the homeowners are sued after the public auction and the bank gets a deficiency judgment, then bankruptcy can be used to discharge the judgment. However, bankruptcy can not be used in advance before a deficiency judgment or other debt even exists to preclude its possibility.
Is there deficiency judgment in Florida?
Yes, deficiency judgments are allowed in the state of Florida. When the lawsuit is filed, homeowners have the right to a jury trial to hear the deficiency case. Also, the bank must have in-hand service of the lawsuit paperwork on homeowners in order to include a deficiency judgment action in the original case.
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.
What deficiency judgment laws in Maryland?
In Maryland, if a home is foreclosed on and the sale price does not cover the full amount owed, the lender can seek a deficiency judgment within three years of the foreclosure sale. However, there are various exemptions and limitations that may apply to protect homeowners from deficiency judgments in certain circumstances.
How do you know if you would get a deficiency judgment on your forclosure. Do they go after pension or social security?
Can there be a deficiency judgment on a mortgage forclosure in virginia?
What happens after a judgment of foreclosure on a mortgage?
In very broad terms, the judgment creditor can apply to the court for a writ of sale and have the sheriff sell the property at a public auction. The exact time line will vary by state and will depend on whether or not you are entitled to a deficiency judgment. For example, California has two different time lines. If a deficiency judgment is not available or the creditor waives the right to get a deficiency judgment, then the sheriff gives 120 days notice of levy and 20 days notice of sale. if there is the right to have a deficiency judgment, the sale occurs after 30 days but the owner has a 90-day right of redemption.
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.
