Squidoo-30may14strategies To Prevent Deficiency Judgment

A short sale is a viable solution to prevent your bank or lender from foreclosing on your property. In a short sale, the lender agrees to accept a deficient sale price for the property (an amount that is less than the mortgage you owe). In many cases, the deficiency (remaining amount owed) is forgiven by the bank or lender, but many homeowners find themselves in yet another financial predicament as the lender seeks deficiency judgment against them, months or even years after the short sale went down.
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