Money Pays The Rent: Debt Colectors Love Foreclosure Deficiency Judgments

The debt collectors have been purchasing deficiency judgments and the right to pursue them from foreclosure actions in judicial foreclosure states. florida deficiecny judgments are particularly tasty to the debt collectors who purchse default judgments.The judgments in florida are then used to collect money that goes in the debt collector’s pockets.

If a deficiency judgment was obtained against her related to her pending foreclosure, and her creditor attempted to come after the AZ real estate, I wonder if there is a legal basis to argue that I effectively made a fraudulent conveyance to her back in 2010 for the sole purpose of attempting to block B of A from collecting on my deficiency.

Foreclosure sale. If your home goes to foreclosure sale, it will be sold to the highest bidder, who may be the lender or a third party. The foreclosure sale takes place at a public auction, usually at a county courthouse. Once payment is made, the winning bidder takes ownership of the property. Deficiency judgment.

Once a mortgage lender gets a deficiency judgment against you, it can then proceed to collect on that judgment. If the mortgage creditor was a second lien holder in the foreclosure, it is more likely they will pursue collection efforts, especially if they received little or nothing from the foreclosure sale.

Money Pays The Rent: Debt Colectors Love Foreclosure Deficiency Judgments Money Pays The Rent: Debt Colectors Love Foreclosure Deficiency Judgments Repair Your Bad Credit With future fico: december 2014 – 3rd party debt collectors buy bad debt, including deficiency judgments. So, even though they will claim you have to pay the judgment amount.

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If you are going to pay a judgment, you absolutely must ensure it will, in fact, be paid off and a Satisfaction of Judgment will be filed. This should be done by a lawyer. Fitzgerald Campbell has a very affordable, performance-based program to resolve judgments. 3) Discharging the judgment through bankruptcy.

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Statute of Limitations for Debt Collection in Michigan. Many people assume, based on the Michigan Statute of Limitations, that if they just "wait it out," their debt collectors will exhaust their collection efforts or the time will run out for the creditor to collect on the debt.

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