Contact bankruptcy attorneys now for your FREE debt consultation 855.536.9231

Tag Archives: lender

Can I Shed My Mortgage?

The answer to this question depends entirely on your situation. You may be able to prevent foreclosure and get rid of your mortgage at the same time by investigating who exactly owns the mortgage and holds the promissory note for the loan. And you may be able to drop a second mortgage entirely if you… Read More »

How Unperfected and Perfected Liens Work in Bankruptcy

Liens refer to secured property where the property is used as collateral for loans. To perfect a lien, the lender must file it with the correct legal authority. For example, a car dealership must file the lien with the Department of Motor Vehicles or whichever authority in the dealership’s particular state handles the filing of… Read More »

How Does Bankruptcy Deal with a Deficiency Judgment?

Once a court grants a deficiency judgment to the creditor, the creditor may be able to take various actions to collect payment. The creditor can put a lien on your bank account or garnish your wages, depending on state laws. How long does the lender have to obtain a deficiency judgment? That depends on the… Read More »

Breaking Down Deficiency Judgments

A deficiency judgment is a court order for debt payment. People most commonly think of a deficiency judgment in relation to a foreclosure. The homeowner owed the lender money on the mortgage, did not pay, and the lender foreclosed. However, the foreclosure sale of the home did not bring in enough proceeds to pay for… Read More »