Many homeowners are unaware that if they sell their home by a short sale, or go through a foreclosure, their bank could later sue them for a Deficiency Judgment. What is a deficiency judgment? It is a debt placed against you, remaining unpaid to your bank, after the bank receives money from the sale of your home (collateral) either before the foreclosure (as in a short sale) or after the bank acquires title via foreclosure. The above video further explains how a deficiency judgement works. When settling a Short Sale it's important to negotiate a deficiency judgement waiver so that you are not responsible for the unpaid balance.

Deficiency Judgement Waiver?

There are government programs where banks settle in a short sale and agree to NOT pursue for a deficiency judgment. We have helped many homeowners sell through a short sale without the worry of a later deficiency judgment.

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