Re: Will i get a judgement after the sale?

Posted by Julio Martinez-Clark on April 28, 2008 at 10:06:38:

In Reply to: Re: Will i get a judgement after the sale? posted by Matt on April 28, 2008 at 04:37:30:

Matt,

Individuals are contractually obligated to pay whatever they agreed to borrow from their
lenders. A lender, If allowed by state law, could potentially obtain a mortgage deficiency
judgment against an individual whose property doesn't satisfy the debt at a foreclosure
sale. It's up to the lender decide to do it or not. Nobody on this discussion board on in any
other one can exactly tell you if your lender will pursue and collect a mortgage deficiency
judgment against you. It hasn't been common in the past in the case of foreclosing lenders,
however that doesn't mean that it cannot happen in the future.

Please read my real estate articles in my blog. They will answer many of your current and
future questions.

I hope this helps,

Julio Martinez-Clark

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