Mortgage Foreclosure Can Mean Deficiency Judgment

Many Florida homeowners facing foreclosure do not realize that they might still owe money to the mortgage lender long after a foreclosed property has been sold.

Lenders can obtain a “deficiency judgment” against a homeowner, which is the difference between the homeowner’s outstanding mortgage balance and the value that a bank receives after a foreclosure or short sale.

News Channel 10 has an interesting video about Florida homeowners and deficiency judgments.

If you have questions about a mortgage foreclosure or deficiency judgment, contact Fort Lauderdale mortgage foreclosure attorney Marcy Resnik. You can contact her online or call her at 954-321-0176.