Posts with tag deficiency judgment

For Americans who lost their home to foreclosure, the real estate nightmare may not be over. In many states -- such as Florida, Illinois, New York, Texas, and Virginia, to name a few -- lenders have the legal right, known as a deficiency judgment, to go after borrowers who owe money on their foreclosed home. The lender... Continue Reading »

If all the stories in recent months about walking away from your mortgage are to be believed, the practice of not paying this once-sacred obligation has become, if not quite acceptable, then at least understandable. Whether a person is underwater on his or her mortgage, is unemployed, or both, when you listen to the... Continue Reading »