Feb
04
2010
You lost your house – but you still have to pay
Posted by doris in Banking, Foreclosure, Home, Money, RepayFormer homeowners may still be on the hook if there’s a difference between what they owed on their mortgage and what the bank could sell it for at auction. And these “deficiency judgments” are ticking time bombs that can explode years after borrowers lose their homes.It can even happen to people who got their bank to approve them selling their home for less than it is worth.
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