0
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.
What else can I help you with?
Does Pennsylvania have an anti deficiency law?
No, you can have a judgment against you for a default.
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.
Does California anti-deficiency law apply to unimproved land?
Anti-deficiency laws generally apply to the primary residence.
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.
Is there an anti-deficiency law in Illinois?
http://wiki.answers.com/Q/Is_there_an_anti-deficiency_law_in_illinois"
Is Wisconsin one of the states that has the anti bullying law?
No
Who initiates a foreclosure?
The bank that loaned the money initiates the foreclosure when the debtor fails to make the payments. Generally, the bank is represented by a law firm that specializes in foreclosure and the law firm begins the procedure.The bank that loaned the money initiates the foreclosure when the debtor fails to make the payments. Generally, the bank is represented by a law firm that specializes in foreclosure and the law firm begins the procedure.The bank that loaned the money initiates the foreclosure when the debtor fails to make the payments. Generally, the bank is represented by a law firm that specializes in foreclosure and the law firm begins the procedure.The bank that loaned the money initiates the foreclosure when the debtor fails to make the payments. Generally, the bank is represented by a law firm that specializes in foreclosure and the law firm begins the procedure.
What anti bullying law?
45 of the 50 states have anti-bullying laws
If the proceeds from the foreclosure sale are not enough to pay off the mortgage is the mortgage still cancelled as a debt against the borrower?
The difference between what is still owed on the mortgage and what the property was sold for at the foreclosure sale is called a "deficiency". The ability of a lender to collect the amount of the deficiency is governed by state law. You need to check the laws of your state for a definitive answer. See the discussion at the link provided below for more information.
Does Texas have a deficiency law?
Yes, Texas has a deficiency law that addresses the situation where a lender seeks to recover the difference between the amount owed on a loan and the proceeds from the sale of the collateral after foreclosure. In Texas, if a lender forecloses on a property and the sale does not cover the outstanding debt, they may pursue a deficiency judgment against the borrower, but this is typically limited to non-recourse loans. However, Texas law also provides certain protections for borrowers, particularly in cases involving homestead properties.
Can a mortgage company come back on the estate of a deceased person when the survivor - who is not an heir with JTWROS defaults on the loan?
If the decedent signed the mortgage the lender can take possession of the property by foreclosure if the mortgage isn't paid.Whether the lender can sue the estate for any deficiency depends on several factors including the law in your jurisdiction. You should ask the attorney who is handling the estate.If the decedent signed the mortgage the lender can take possession of the property by foreclosure if the mortgage isn't paid.Whether the lender can sue the estate for any deficiency depends on several factors including the law in your jurisdiction. You should ask the attorney who is handling the estate.If the decedent signed the mortgage the lender can take possession of the property by foreclosure if the mortgage isn't paid.Whether the lender can sue the estate for any deficiency depends on several factors including the law in your jurisdiction. You should ask the attorney who is handling the estate.If the decedent signed the mortgage the lender can take possession of the property by foreclosure if the mortgage isn't paid.Whether the lender can sue the estate for any deficiency depends on several factors including the law in your jurisdiction. You should ask the attorney who is handling the estate.
Who is the anti deficiency act?
The Anti-Deficiency Act is a United States federal law that prohibits federal agencies from spending more money than has been appropriated by Congress. It aims to prevent the government from incurring obligations or making expenditures in excess of available funds, thereby ensuring fiscal responsibility. Violations of this act can lead to serious consequences, including disciplinary actions against federal employees. The law is essential for maintaining budgetary control and accountability within government operations.
