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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.
Is Oregon a real estate deficiency judgment state?
Yes, Oregon is a deficiency judgment state. This means that if a property is sold in a foreclosure and the sale price is less than the outstanding mortgage balance, the lender can seek a deficiency judgment against the borrower for the remaining amount. However, in Oregon, the borrower must be notified of the lender's intent to pursue a deficiency judgment, and there are specific rules governing the process.
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.
Does the state of Illinois allow mortgage companies to sue for a deficiency judgment after the foreclosure?
yes
Do i lose protection under California anti-deficiency judgment law if i refinance my home loan?
This question is timely and important in the State of California. Presently (August, 2012), the answer is yes, if you refinance, you lose the legislative protection you have against a bank's deficiency judgment if the bank forecloses judicially (i.e., through the courts). Anti-deficiency protection extends only to loans that are obtained to pay all or part of the purchase price of the home. However, a bill was recently introduced, and passed, in the State of California (SB 1069), providing that no deficiency judgment shall lie in any event on any loan, refinance, or other credit transaction that is used to refinance a purchase money loan, or subsequent refinances of a purchase money loan (except to the extent that the lender or creditor advances "new principal" to the borrower). The new law only applies to transactions executed on or after January 1, 2013.Stephen G. Hammers shammers@pcghlawyers.comhttp://www.linkedin.com/pub/stephen-hammers/23/a80/b41
Does Indiana have a anti deficiency law?
Anti deficiency laws are laws in a state that prohibits lenders from suing borrowers for deficiencies. In Indiana there are conditions that allow for Judgements to be issued.
Does Florida have anti-deficiency laws?
according to this website, NC does have an anti-deficiency provision. http://www.helocbasics.com/list-of-non-recourse-mortgage-states-and-anti-deficiency-statutes/
Do anti deficiency laws pertain to refinanced first mortgages?
According to the Anti Deficiency laws, anti deficiency laws applies to the refinanced first mortgage as long as the property is used as a primary residence of the purchaser.
Does California anti-deficiency law apply to unimproved land?
Anti-deficiency laws generally apply to the primary residence.
What states have anti deficiency law on foreclosure?
Anti-deficiency laws are designed to protect borrowers from owing more than the value of their property after a foreclosure. States with notable anti-deficiency laws include California, Arizona, Nevada, and Washington, among others. These laws generally prevent lenders from pursuing a deficiency judgment against borrowers who default on their mortgage. However, the specifics can vary by state, so it's important to consult local laws for precise details.
Dose Texas have anti-deficiency law?
As of August 2014, Texas does have an anti deficiency law. Other states with the same law are Alabama, Arkansas, Delaware, and Illinois.
What state is fl?
FL. Is Florida!
Is there an anti-deficiency law in Illinois?
http://wiki.answers.com/Q/Is_there_an_anti-deficiency_law_in_illinois"
Does Pennsylvania have an anti deficiency law?
No, you can have a judgment against you for a default.
What is Floridas state abbreviation?
* FL * Fla. or * US-FL
Can Exceeding quarterly funding levels can result in an Anti-deficiency Act violation?
TRUE
Can exceeding quarterly funding levels result in an anti deficiency act violation?
TRUE
