Posted on: 05th Sep, 2009 03:19 pm
I am planning to move to Az, which I know is an anti deficiency state, and my property in Michigan will be a short sale.
I know that Michigan is not an anti-deficiency state. However, I was wondering if anyone knows if it is common for mortgage companies to sue for the deficiency balance in cases of short sales.
I'm on a pension, which I believe is protected from being garnished. I would be renting in Az, and have no real assets they could go after, but I'm concerned they could sue for the short sale amount.
I know that Michigan is not an anti-deficiency state. However, I was wondering if anyone knows if it is common for mortgage companies to sue for the deficiency balance in cases of short sales.
I'm on a pension, which I believe is protected from being garnished. I would be renting in Az, and have no real assets they could go after, but I'm concerned they could sue for the short sale amount.
mortgage company has the right to recover money back.