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FORECLOSURE DEFICIENCY JUDGMENT or SHORT SALE PROMISSORY NOTE or BANKRUPTCY? - REVISITED
 
Facing foreclosure or deciding to do a short sale? This article was written by a Florida attorney and goes over the differences of a deficiency judgment and promissory note. You should defintely read this if you are facing either. We handle many short sales here in Lee County and get asked these questions quite often. While we are not attorneys we can not give legal advice. We always suggest a potential short sale seller speak with an attorney to go over their specific situation before they list with us. We can be reached at (239) 542-8521 or on my cell phone at (239) 218-2229. http://www.The-Extreme-Team.com. We look forward to hearing from you.
 
 
 
Whether to agree to a negotiated promissory note in a short sale or allow the house to go to foreclosure is one of the most discussed topics around.  It deserves a simple comparison.
My previous article on this subject can be found at Negotiated Payback or Foreclosure Judgment Deficiency? Compared.
A negotiated promissory note is ALWAYS better than a deficiency judgment resulting from a foreclosure.  Here is why:
Deficiency Judgment -
1.  You have a foreclosure judgment against you and if you fill out most ... more

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