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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.
What else can I help you with?
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.
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.
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.
Is Indiana a non recourse state?
No... Illinois is a recourse state.... They can come after you for a deficiency judgment.
Can a bank garnish your pension in a deficiency judgment?
In general, pensions are typically protected from garnishment in the case of a deficiency judgment, meaning that a bank usually cannot seize pension funds to satisfy such a judgment. However, laws can vary by state, and there may be exceptions depending on the type of pension and the specific circumstances. It's important to consult legal counsel or a financial advisor for guidance based on your situation and local laws.
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 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.
What deficiency judgment laws in Maryland?
A homeowner who is foreclosed upon in the State of Maryland is exposed to the lender pursuing a deficiency judgment for the portion of the total debt not repaid from the proceeds of the foreclosure sale. The lender must pursue the in personum judgment (judgment against the person) within 3 years of the final ratification of the foreclosure.
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.
Is Ohio a deficiency judgment state?
Yes, it is.
What is the process for a deficiency judgment in Michigan?
In Michigan, deficiency judgments are allowed after a sheriff sale of a property in foreclosure. If the mortgagee (usually the bank or investor that owns the mortgage) purchases the property at the public auction and sells for less than its fair market value, homeowners may be able to raise this as a defense to limit the size of the deficiency judgment. Michigan foreclosure laws are discussed at the following section of the Michigan Code: Mich. Comp. Laws sections 600.3101 to 600.3180, 600.3201 to 600.3280
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.
