Recent Posts in Deficiency Category
Posted on Jun 2, 2011 By Florida Foreclosure Defense Attorney
Our client had purchased a condominium in Jupiter for her elderly mother making it an investment property. The condominium had been purchased in the height of the market and secured by a mortgage in ...
Continue reading "Is There a Way Out for Florida’s Underwater Real Estate investors?" »
Posted on Apr 14, 2011 By Deborah A. Carman, Esq.
For homeowners who thought the worst was over when their foreclosure was final, or short sale completed, things will get much worse. With hundreds of thousands of foreclosures filed in Florida since ...
Continue reading "Deficiency Judgments: Debt that haunts for decades" »
Posted on Apr 14, 2011 By Deborah A. Carman, Esq.
Unlike California, Florida does not have an anti-deficiency law. You may face hundreds of thousands of dollars in debt from a deficiency judgment if you let the bank foreclose or did not get a waiver ...
Continue reading "Foreclosure, Short Sale… you could be faced with thousands of dollars in debt!" »
Posted on Mar 28, 2011 By Admin
By Kimberly Miller and Christine Stapleton Palm Beach Post Staff Writers He once lived just steps from the ocean in a home valued last decade at more than $500,000 . But John Ericksen has fallen - far ...
Continue reading "FORECLOSURES’ HIDDEN RISK: DEBT THAT HAUNTS FOR TWO DECADES" »
Posted on Jan 1, 2011 By Deborah A. Carman, Esq.
After more than four years of plunging home values hundreds of thousands of Florida homeowners will begin another New Year owing more on their mortgages then their homes are worth. For those of you ...
Continue reading "Foreclosure Crisis will continue through 2011" »
Posted on Dec 2, 2010 By Admin
Over the past couple of years, lenders and federal policy makers have pointed to short sales as a way to revive declining housing market while at the same time helping troubled borrowers to avoid ...
Continue reading "Second Mortgages Stand in Way of Short Sales" »
Posted on Nov 29, 2010 By Admin
Strategic default is a process by which homeowners that can afford to continue making their monthly mortgage payments, make a calculated financial decision to default on their mortgage in order to ...
Continue reading "Strategic Default is increasing for those who have no choice. " »
Posted on Nov 27, 2010 By Admin
If it's not bad enough to lose your home to foreclosure, you may still be liable for the deficiency amount. That's the difference of what's owed on your mortgage loan and what the bank could sell for ...
Continue reading "UNDERWATER? You can get out without a deficiency judgment." »
Posted on Nov 3, 2010 By Deborah A. Carman, Esq.
Recently my office has received numerous inquiries asking about the possibility of wage garnishment during the foreclosure process. Of course I'm not one bit surprised to hear that lenders are ...
Continue reading "Can the Bank Garnish My Wages During a Florida Foreclosure?" »
Posted on Sep 9, 2010 By DEBORAH A. CARMAN, ESQ.
Even after losing your home to foreclosure, the lender or a debt collector may come knocking at your door, looking for money. I recently read an article on how deficiency judgments in Lee County are ...
Continue reading "Foreclosure deficiency judgments on the rise " »
Posted on Sep 3, 2010 By DEBORAH A. CARMAN, ESQ.
Homeowners considering a short sale should be mindful that most real estate salespeople and self-proclaimed short sale experts do not warn a homeowner of the risks involved with a short sale. Click ...
Continue reading "Another WARNING to Florida Homeowners about Deficiency Judgments" »
Posted on Aug 18, 2010 By Admin
The Carman Law Firm, one of South Florida's most experienced foreclosure defense firms is happy to announce that it has negotiated on behalf of one of its many real estate investor clients a short ...
Continue reading "Carman Law Firm finalizes short sale for its investor client" »
Posted on Aug 13, 2010 By DEBORAH A. CARMAN, ESQ.
Over the past several months I've noticed a trend that I believe needs to be addressed. It involves homeowners that have their mortgage with Bank of America and are forced, due to financial hardship, ...
Continue reading "Bank of America, Short Sales and Equator" »
Posted on Aug 9, 2010 By Admin
The Carman Law Firm, one of South Florida's most experienced foreclosure defense firms is happy to announce that we negotiated a short payoff agreement with the mortgage insurer of a mortgage insurer ...
Continue reading "Carman Law Firm settles 2nd mortgage for 9.8% of the outstanding balance" »
Posted on Aug 7, 2010 By Admin
The Carman Law Firm, one of South Florida's most experienced foreclosure defense firms is happy to announce that it prevented foreclosure for another of its many real estate investor clients by not ...
Continue reading "Carman Law Firm negotiates short sale with a full release of deficiency and settles 2nd mortgage at 10% of its principal balance" »
Posted on Aug 4, 2010 By Admin
The Carman Law Firm, one of South Florida's most experienced foreclosure defense firms is happy to announce that it prevented foreclosure for one of its many real estate investor clients by not only ...
Continue reading "Carman Law Firm settles 2nd mortgage at 10% of its principal balance with a full release of deficiency" »
Posted on Jul 25, 2010 By Deborah A. Carman, Esquire
Finally your realtor and so-called short sale expert has completed your short sale; what a relief, you didn't have to pay the realtor, you didn't have to incur the cost of an attorney, and it's ...
Continue reading "Your Short Sale is done, what a relief, or is it?" »
Posted on Jul 13, 2010 By Deborah A. Carman, Esquire
Just a few short weeks ago, Fannie Mae issued an outright threat to homeowners in this country by creating a new rule that would punish anyone who stops paying their mortgage and walks away from their ...
Continue reading "Walking away from your mortgage is bad for Fannie Mae and the banks, NOT YOU! " »
Posted on Jun 28, 2010 By Florida Foreclosure Defense Attorney
After announcing this week that it intends to crack down on strategic defaulters, Fannie Mae issued a servicing guide Friday implementing another new policy - requiring servicers to verify income, ...
Continue reading "Fannie Mae Mortgage Modifications Now Require Proof of Financial Hardship" »
Posted on Jun 14, 2010 By Deborah A. Carman, Esquire
Hiring a realtor or real estate broker to negotiate a short sale could ruin your chances of avoiding a deficiency judgment. Your goal is to avoid the potential for the lender to seek a deficiency ...
Continue reading "What you need to know BEFORE hiring a Realtor to do a short sale of your property" »
Posted on Jun 11, 2010 By Florida Foreclosure Defense Attorney
It is imperative that homeowners understand what might happen if the final sale price for their home is less than what they owe their lenders, the Deficiency . This is even more critical if the ...
Continue reading "Understanding Short Sale Deficiencies " »
Posted on Jun 2, 2010 By Deborah A. Carman, Esquire
As recently reported many legal analysts believe that lenders will file a barrage of lawsuits over the next few years as a way to recoup their losses from deeds in lieu of foreclosure, foreclosures ...
Continue reading "Short Sales: Exposing Yourself to a Future Lawsuit " »
Posted on May 25, 2010 By Deborah A. Carman, Esquire
Since my firm continues to handle so many Florida short sales, we naturally receive numerous inquiries from distressed Florida homeowners regarding the possibility of having a deficiency judgment ...
Continue reading "Short Sales and the Risk of Deficiency" »