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What are the short sale deficiency judgment laws in Pennsylvania?
Deficiency judgments are allowed in Pennsylvania if the mortgage company files a separate lawsuit against the borrowers after the original foreclosure auction. If the mortgagee (usually the foreclosing bank) purchases the property at the auction, the amount of any deficiency judgment is limited by the fair market value of the property.
Define deficiency state?
A state that allows the foreclosing party to pursue the previous mortgagor for the difference of the sale price and the debt amount if the foreclosed home is not enough collateral to cover the debt.
What is the fine line difference between commercial debt and consumer debt?
Commercial debt is taken by businesses to manage operations, expansion, or working capital needs. It is usually repaid from business income, and lenders evaluate factors like business turnover, profitability, and cash flow before approval. Consumer debt, on the other hand, is taken by individuals for personal needs such as education, housing, emergencies, or lifestyle expenses. This type of debt is repaid from personal income, like salary, and approval depends on factors such as credit score, income stability, and existing liabilities. Understanding this difference is important when choosing the right type of loan. Platforms like LoansJagat help users clearly understand various loan options, whether business-related or personal and guide them in selecting suitable solutions based on their financial needs.
What is difference between loan and debt?
loan is money borrowed and debt is money owed. :-)
What is the difference between debt and loan?
A debt is something you owe someone, a loan is something you borrow
What is the difference between debt settlement vs bankruptcy?
There is a subtle difference between debt settlement and bankruptcy. Debt settlement allows a person to pay off some of their debt with their creditors. Bankruptcy claims do not result in payment of the debt. Either practice creates bad credit scores for the consumer.
Difference between debt settlement and negotiation?
No difference, 2 different words for the same thing.
What is the difference between a liquidated debt and an unliquidated debt?
The difference between an unliquidated debt and a liquidated debt is this: Liquidated Debt: A debt that has an exact monetary value. Unliquidated Debt: A debt that is undisputed as to its amount, but still under the liability of the debtor. Each one of these debts has a statute of limitations to it. I believe they stand at 3 years for liquidated debt, and 6 years for unliquidated debt. These numbers are for Colorado and can change from state to state based on their rulings.
What do you do to replace the oxygen debt?
you repair the oxygen debt with exercise
What is the difference between debt service and debt repayment?
The main difference between the two is that when a account being. Debt services means they consolidate your debt and debt repayment means they are asking for repayment through money. You should go for debt services to get out of debt. The meaning of this is that the debt consolidator will get in touch with all your lenders, "pay off" the balances on your behalf and subsequent to this instead of two or more credits, you only be indebted to one lender!
Difference between interest-bearing and non-interest-bearing debt?
Difference between interest-bearing and non-interest-bearing note.
What best describes the difference between credit and debt?
Credit measures ability to buy, while debt means money owed.
