Deficiency Judgment Allowed
Posted by Reinstatement Services, Inc. on November 24, 2004 at 10:28:20:
In Reply to: possible foreclosure in Iowa? posted by katt on November 23, 2004 at 15:28:20:
Since your state does allow lenders to continue collection of an outstanding debt via the granting of a deficiency judgment, it would probably be in your best interest to resolve the situation with your first house so as not to further jeopardize the standing of your second dwelling. A deficiency judgment in a foreclosure action within your state has a 2 year statute of limitation.
Have you considered renting the property?
