0
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.
What else can I help you with?
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.
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.
Does the state of Illinois allow mortgage companies to sue for a deficiency judgment after the foreclosure?
yes
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.
Can creditors garnish wages in Florida?
Yes, Florida allows wage garnishment by a judgment creditor.
In Florida are sellers of a home responsible for deficiency judgments?
If the sellers sold the home for as much as they owed on the loan, there is no possibility for a deficiency judgment, since there is no deficiency. If the sale was through a short sale where the bank took less than it was owed but allowed the homeowners to sell and walk away, the bank would have to sue for the deficiency judgment.
How common are deficiency judgments in Florida?
Deficiency judgments are fairly common everywhere on large houses. The more the amount you owe on a house, the more you are likely to have a judgment filed against you.
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.
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?
Is Ohio a deficiency judgment state?
Yes, it is.
Is Florida a nonrecourse state?
No, Florida is not a non-recourse state. If a mortgage is foreclosed in Florida, the lender may sue for any deficiencies between the amount of the loan still owed by the borrower and proceeds from the sale of the asset. This applies to mortgages, home equity loans, etc.
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 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 South Carolina a deficiency judgment state?
Yes
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/
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 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.
