Posted on: 21st Mar, 2010 10:16 am
After A Sheriff's sale, how can I find out if a foreclosure was satisifed and if their is a deficiency, and where would I go to get this information.
Hi blond,
You can contact your lender after the sheriff's sale to know how much the property sold for and whether there has been any deficiency from the foreclosure. The lender is also required to send you a Form 1099A where the fair market value of the property at the time of the foreclosure and outstanding balance on the mortgage will be listed. It will also state whether you are liable to pay the deficiency.
You can contact your lender after the sheriff's sale to know how much the property sold for and whether there has been any deficiency from the foreclosure. The lender is also required to send you a Form 1099A where the fair market value of the property at the time of the foreclosure and outstanding balance on the mortgage will be listed. It will also state whether you are liable to pay the deficiency.