Thank you for all the help Jessica. I did a short sale last summer, but th
Thank you for all the help Jessica. I did a short sale last summer, but th
Thank you for all the help Jessica. I did a short sale last summer, but the the holder of my second mortgage made me sign a note that I still owe a deficiency of 100k. It seems they sold the note to a collection agency who is after me for the deficiency.
Can a collection agency pursue a deficiency judgment? If they pursue a deficiency judgment, do you think they can place a lien ona new home that I plan to buy and live in with my family next month? Appreciate your help.
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The collection agency can contact you for the deficient amount. After a short sale, you will still remain liable for the mortgage payments of the second mortgage lender if he haven't been able to recover his dues. If the collection agency gets a judgment against you, then they may place a lien on your new home.