Help Short Sale Deficiency Judgment !

A short sale deficiency judgment post short sale depends on many factors. Here are a few of the main factors:

• What state are you in and is it a deficiency state?
• Who is the investor on the notes?
• What type of short sale programs are you eligible for?

Certain states, investors, and programs do not allow for deficiency judgments. Depending on the above factors and if you are still in the cross-hair for a promissory note or short sale deficiency judgment it will come down to another set of facts.

• What is the amount owed on the home and what is the property worth?
• What is the offer being presented to the bank?
• What is the borrowers financial picture?

If you are presented with a promissory note or a deficiency judgment it can still be potentially negotiated away. The best thing to do is to be proactive and aim for a program that will waive the short sale deficiency judgment if eligible.