Re: How does a deficiency Judgement work?
Posted by NJD on June 22, 2008 at 12:59:20:
In Reply to: How does a deficiency Judgement work?
Posted by Dan on June 18, 2008 at 11:40:15:
The answer depends on how aggressive the lender is in collecting on the judgment. The judgment may lay dormant, earning interest. Or, the judgment lienholder may compel you to produce bank records, etc.,for the court, and then move to seize your bank accounts, or garnish your wages.
A call into a local HUD approved counseling organization should result in answers to your questions.
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