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Re: Question about foreclosure

Posted by steele in minnesota on February 17, 2007 at 08:56:04:

In Reply to: Re: Question about foreclosure posted by USA_Dave on February 17, 2007 at 07:12:15:

Also you need to consider the lender's position. Just because a deficiency judgement is allowed does not mean that it will be pursued. The lender will have to look at the loss and determine if it is worth the court costs and likelihood of getting money.

Surprisingly, many times it is not worth it. What you might think of as a lot of money may not be the same for your lender.

Don't borrow trouble. See how things pan out. And as Dave pointed out there is still time to pursue alternatives. Start checking them out. Now.

Steele V. Propp
Foreclosure Specialist/Loss Mitigator
Schatz Group GMAC Real Estate
Minneapolis, Mn
steelep@aol.com
www.MinnesotaForeclosureNetwork.com

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