Ways to Prevent A Deficiency Judgment After a Short Sale or Foreclosure !
If you really want to prevent a deficiency judgment after a short sale or foreclosure, there are really only 3 potential ways to accomplish this goal.
The FIRST way is to essentially just ask (or beg) your Lender(s) if they are willing to simply just take a loss on your mortgage and WAIVE their rights to come after you later for a deficiency judgment. As you could probably imagine, knowing how uncooperative they were with your loan modification attempts, that this way will not get you what you want nearly 99% of the time. Why would a Lender do that when they have a means to pursue you for the difference by coming after you and garnishing your wages, freezing your bank accounts and seizing or attacking your personal or real property assets in the future for a period of up to 20 years after they receive their court awarded judgment?
The SECOND way is you can always pay an attorney to file Bankruptcy including your lenders in your list of creditors which will wipe away the deficiency judgment, BUT it will ruin your credit for the next 10 years, preventing you from obtaining any loans and receiving credit cards with reasonable interest rates. This should always be reserved as a last option. However, many unfortunately, look to this as their first and only option. This is unfortunate, because while attorneys are getting richer for providing bankruptcy services, homeowners are suffering financially for many years to come.
The THIRD way does NOT involve either bankruptcy, nor does it entail begging or pleading with the lenders to waive their deficiency judgment. It involves using a different legal method to literally FORCE the Lenders to waive their rights to pursue you OR sell their rights to a third party collection company who will come after you by filing a judgment for the deficiency and receiving the authorization by the courts to garnish your paycheck, levy or freeze your bank accounts, and/or sieze your personal or real property assets.
To get more information on how you can legally FORCE your lender to cooperate by waiving their deficiency judgment, visit: www.Force-Your-Lender-To-Cooperate.info/AvoidDeficiency . Use Special code 1SVM9
