Posted on: 14th Nov, 2013 01:14 pm
I had an investment undeveloped lot that went to foreclosure and auction. the bank may seek payment of deficiency. I presently own a primary residence but am insolvent. what can the lender do?
Hi Mr Z,
If you have been declared insolvent, then the lender will not be able to come after you in order to collect the deficient balance. He may not even file any lawsuit against you.
If you have been declared insolvent, then the lender will not be able to come after you in order to collect the deficient balance. He may not even file any lawsuit against you.
Hi Mr Z,
You can contact an attorney and he will be able to let you know what actions can the lender take against you.
Thanks
You can contact an attorney and he will be able to let you know what actions can the lender take against you.
Thanks