What Is An Action For Deficiency Judgment Initiated? A deficiency judgment is a ruling made by a court against a debtor in default on a secured loan, indicating that the sale of a property to pay back the loan did not cover the outstanding debt in full. It is mostly a lien placed on the
Does NJ Allow Deficiency Judgments? Deficiency Judgments: Allowed in New Jersey, But Not in the Foreclosure. To get a deficiency judgment after a New Jersey foreclosure, the lender must file a separate lawsuit within three months from the foreclosure sale date or, if confirmation of the sale is required, from the date of the confirmation
How Do I File Chapter 7 And Keep My House? If you wish to file Chapter 7 bankruptcy and keep a property for which you have fallen behind on monthly payments, you may be able to negotiate with your mortgage company before filing. If your lender agrees to modify your loan or refinance to resolve
How Does A Sheriff Sale Work In Indiana? The real property named in the judgment and decree of foreclosure is sold at a public auction conducted by the sheriff of the county where the property is located. The highest bidder wins the auction, and the proceeds are applied to the judgment amount less various costs
How Long Does The Foreclosure Process Take In Indiana? about 150 days Is there a redemption period in Indiana? How Long Is the Redemption Period After an Indiana Tax Sale? Generally, the homeowner gets one year after the sale to pay the redemption amount and reclaim the property following a tax sale. (Ind. Code §
Is It Good To Buy A Foreclosed Home? The main benefit of purchasing a foreclosed home is savings. Depending on market conditions, you can purchase a foreclosed home for considerably less than you’d pay for comparable, non-foreclosed homes. The main risks come from the degree to which a foreclosed property can be a mystery to
How Does Foreclosure Work In Maryland? When the lender schedules the foreclosure sale, they must provide notice to homeowner. The Homeowner has the right to cure the default by paying all past due payments, penalties, and fees and reinstate the loan at any time up to 1 business day before the foreclosure sale occurs. How
How Does Sheriff Sale Work In PA? Every County in Pennsylvania conducts periodic sheriff’s sales of real estate. They may be every month or every few months. The sales are conducted in an auction format with open bidding. The properties at sale are being sold at the behest of a creditor attempting to recover money
How Long Do I Have To Move After A Writ Of Possession In Texas? 2 days -The Constable is required by law to post a 24 hour vacate notice on the Writ of Possession 20-23 days is the minimum amount of time to evict someone in any County in Texas. It must also be noted
Why Do Banks Hold Foreclosed Homes? The bank has a duty of care to its investors in respect of the foreclosed property. Bank must put the property up to the best rate on behalf of its investors. Thus, they spend much time strategizing and studying the property to ensure that they sell it to the