Deficiency judgement: deals and fees?

Posted by Introuble on January 31, 2008 at 19:18:46:

I will most likely be facing a deficiency judgment of 55k for my second refinanced mortgage.

What kind of fees will most likely be tacked on to it? How high can it go? I could pay back some of it now (about 20k), even before the judgment. Should I do that right away, and hope that they won't do the judgment?

What happens if I wait and "disappear" (other state etc), will they consider making a deal with me (such as 50 cents to the dollar), and so I should save the 20k for that in case they come after me? What kind of lawyer could answer these questions?

Are there any statistics on how often a bank files a deficiency judgment (CA)? Does it depend on the amount? If so, is there a cutoff value below which it is not worth for the bank to file?

Thanks for any help!

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