Josh Talayka | February 22, 2011
When making the decision to walk away from your home (whether a strategic walk-away or hardship), the first question always asked is; why bother going thru a short sale, rather than just letting the bank foreclose? Although to most a short sale may be the obvious choice, the answer may vary depending on a person’s individual circumstance. However before making the decision, you should always take into account all the future ramifications of your decision. Here is a simple comparison chart of the different ways a foreclosure vs. a short sale will affect you in the years following your decision:
Category: Short Sale & Foreclosures |
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Tags: Chase International, Credit, deficiency judgment, Employment, Fannie Mae, Foreclosure, mortgage, Nevada, NV, Real Estate, reno, Security Clearance, short sale, Talayka, www.sellinghomesinreno.com, www.sellingnorthernnv.com
Josh Talayka | February 17, 2010
In the state of Nevada, it has been possible for a borrower to receive a deficiency judgment even after they’ve already lost their home to foreclosure. Effective October 1, 2009 Assembly Bill No. 471 addresses this issue by limiting who may be awarded a deficiency judgment relating to real property.
Category: Short Sale & Foreclosures |
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Tags: AB 471, AB471, Assembly Bill 471, Chase International, Credit, deficiency judgment, Foreclosure, Nevada, NV, Real Estate, reno, Talayka, www.sellingnorthernnv.com
Josh Talayka | June 1, 2009
When the first lender carries out a foreclosure sale, the second mortgage lender may be able to take the following steps: Deficiency Judgment, civil judgment, bid for the property, charge-off
Category: Credit, Financing/Mortgage Topics, Short Sale & Foreclosures, Tax |
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Tags: Charge-off, civil judgment, Default, deficiency judgment, Foreclosure, mortgage
