What Is A Deficiency Judgment?

Personal liability for defaulted secured debt is a major reason why you need to have an experienced bankruptcy and foreclosure defense lawyer on your side. Deficiency judgments are the amount still due to the bank after the loss of your home. Smart legal counsel can make certain that your future is legally protected from deficiency judgments. This is especially true if you are, like most Connecticut homeowners, "underwater" on your mortgage. Our informed legal advocates know when to protect your future from the disastrous results of deficiency judgments. We provide you with sound strategies to have success in dealing with any foreclosure, mortgage modification, short sale and/or bankruptcy process.

At The Law Offices of Neil Crane, LLC, we have first-hand experience with the havoc deficiency judgments wreak on homeowners throughout the state of Connecticut. We help people of all means and income avoid costly foreclosure proceedings, protect from deficiency judgments, and defend against lawsuits from lenders.

Be careful - After the completion of a short sale, foreclosure or deed-in-lieu of foreclosure, you can still be on the hook for the difference between the sales price of your home and the amount still owed on your first or second mortgage. A simple lawsuit on a court-ordered deficiency judgment could force you to pay the deficiency judgment by bank account levy, property attachments, wage garnishment or seizure/repossession of other assets.

It is absolutely crucial to get the prompt advice of an aggressive and specialized attorney who can help you avoid deficiency judgments from foreclosures or repossession.

Contact us today to schedule a free initial consultation. We take the time to discuss your full financial situation, understand your objectives and defend your right to a fresh start.

Seek the advice of one of our local debt relief lawyers. Call us to obtain a prompt and free consultation at any one of our offices across the state, including Hamden, Bridgeport, Waterbury, Rocky Hill and Ridgefield.