Skip to content

Avoid Deficiency Judgment – Know Your Options (Take 2)

by Dorota Trzeciecka on August 15th, 2013

In November 2011, I wrote a blog article titled “Avoid Deficiency – Know Your Options”.  I can tell from the questions being posted on Avvo these days that my post is even more relevant today than it was almost two years ago.  A couple of days ago, I saw a question on Avvo, in which a victim of a $143,000 deficiency judgment stemming from a short sale, was asking for advice, because the lender has garnished her salary three years later.  Surprised?  She was.

Once your salary has been garnished, it’s a little too late to explore your options, because they become very limited.  So, if your home is in foreclosure and you do not want to keep it, don’t just list it for a short sale, without doing anything more.  It is a sure way to have deficiency judgment against you, and even surer way to loose your assets and bank accounts to creditors in the future.   So, know the available government programs and other options that are designed to help you avoid deficiency judgment after short sale or foreclosure.

Call me at 305-439-0464,  to discuss your alternatives to foreclosure.

 

From → Foreclosure