Posted on: 03rd Feb, 2013 10:17 am
what should i do continue pay the sceond mortrgage not sure waht a deficiency judgement is or how the second will charge off your morrgage
Hi valerie,
Deficiency amount is the amount of money which the lender was unable to recover from the sale of the property. The lender can get a judgment from the court house so that he can recover the deficient amount from you. This is known as deficiency judgment. You can pay off the deficient amount by setting up a payment plan with the lender.
Deficiency amount is the amount of money which the lender was unable to recover from the sale of the property. The lender can get a judgment from the court house so that he can recover the deficient amount from you. This is known as deficiency judgment. You can pay off the deficient amount by setting up a payment plan with the lender.
hi valerie!
welcome to forums!
to know all about second mortgage charge off, check out the given page: http://www.mortgagefit.com/know-how/secondloanchargeoff.html
feel free to ask if you've further queries.
sussane
welcome to forums!
to know all about second mortgage charge off, check out the given page: http://www.mortgagefit.com/know-how/secondloanchargeoff.html
feel free to ask if you've further queries.
sussane