MyForeclosureAttorney.com's Blog

Bankruptcy is a legal process which allows a person (a "debtor") who owes more money than he or she can currently pay to either: (1) reorganize the debtor's budget to repay a portion of their debts over time; or (2) to liquidate and have most debts forgiven ("discharged"). After a debtor has file...

The rules concerning a foreclosure deficiency are complicated and may come with unexpected financial and tax consequence. Seller is advised to make a thorough examination of its personal financial situation with an experienced tax professional and/or attorney during any foreclosure mortgage proce...

If there is no equity in the property, then it will most likely produce a result where the sale of the property will not be sufficient to pay the entire loan balance in full.  This remaining balance after the sale is what is commonly known as the ‘deficiency.' The lender's are fully within their ...