Personal Finance Advice and Commentary

Monday, October 03, 2011 5:04 pm
By Judy Martel · Bankrate.com

It’s called a deficiency judgment and it’s a nightmare for former homeowners who thought they were free of a mortgage after the bank foreclosed on their property. Since foreclosed homes hardly ever sell for an amount that covers the outstanding loan, 41 states plus the District of Columbia allow lenders to sue the homeowners for