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Debts After Foreclosure
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When you’re in foreclosure, you might think losing your home is the worst that could happen to you. But imagine losing your home and continuing to owe money on your mortgage. Or losing your home and paying taxes for that privilege. Or even losing your home and continuing to owe HOA dues.
When deciding what strategy you will take while in foreclosure, you need to consider whether you will still owe money on your home even after your home is sold at a foreclosure auction.
Articles
What happens if your house is sold at a foreclosure auction for less than the amount you owe on your mortgage? In many states, your lender can come after you for the difference.
Some states have laws that prohibit deficiency judgments and protect borrowers from having to pay a lender for losses following a foreclosure sale.
Don't need to pay back the deficiency? Great! But you may owe taxes on that amount.
If your condo is in foreclosure, you probably haven't been paying your HOA dues. Find out if, and when, the dues will be paid off in a foreclosure sale.
Your lender sues you for a deficiency and wins, but you can't afford to pay. Now what? Find out whether your lender can garnish your wages or place liens on your assets.
Foreclosure Resources
The Foreclosure Survival Guide
Should you fight your foreclosure? Or should you walk away? Learn what's best for you in this bestselling foreclosure book.
Should you fight your foreclosure? Or should you walk away? Learn what's best for you in this bestselling foreclosure book.
Selling Your House in a Tough Market
Selling your home might solve your foreclosure problems, but how to sell in this down market? Find out in this all-in-one guide.
Selling your home might solve your foreclosure problems, but how to sell in this down market? Find out in this all-in-one guide.
The New Bankruptcy
Find out whether bankruptcy is right for you and whether you qualify for bankruptcy in this plain-English guide.
Find out whether bankruptcy is right for you and whether you qualify for bankruptcy in this plain-English guide.
How to File for Chapter 7 Bankruptcy
If you're thinking about filing for Chapter 7 bankruptcy on your own, read this book to find out whether you qualify and how you can cancel as much debt as possible.
If you're thinking about filing for Chapter 7 bankruptcy on your own, read this book to find out whether you qualify and how you can cancel as much debt as possible.
Nolo's Credit Repair Bundle
Learn how to take control of your personal finances, get out of debt, and repair your credit with this pair of books.
Learn how to take control of your personal finances, get out of debt, and repair your credit with this pair of books.
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