Deficiency Judgment Explained with video

December 22, 2011 — cdpe, deficiency judgement, foreclosure, mortgage modification, selling short, short sale

This is an excellent video that explains what a deficiency judgement is.  I was speaking with a distressed home owner this afternoon and her biggest obstacle in her efforts to get a mortgage modification was that she could not understand exactly what the various terms meant when she was speaking with her mortgage company.  She was hesitant to agree to conditions that she didn’t fully understand.

This video describes a lender’s right to a “deficiency judgment” when a property is sold in a short sale or foreclosed upon. Agents who hold the Certified Distressed Property Expert (CDPE) designation are trained to help homeowners navigate alternatives to foreclosure, and can provide answers to the many questions surrounding America’s foreclosure crisis.

I am a CDPE and you can contact me at 508-784-0504 or amymullen@remax.net for a free consultation to find out if a Short Sale is right for you.  You can also visit www.dontforeclosenow.com to review all of your options.