What is a deficiency judgment?
A deficiency judgment is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. The most common way to avoid a deficiency judgement is to voluntarily complete a short sale prior to a foreclosure sale.
Speak directly with the Homeowner Advocate assigned to your property. Your Homeowner Advocate can get you access to critical resources and assistance including monetary and other options specific to your property. The program is privately funded and provided at no cost to participating New York Homeowners.
- Click Here to speak with a Homeowner Advocate, 800-883-4140
- Click on the Chat icon below to connect with a Homeowner Advocate
- Click Here to find out if your property has a foreclosure auction date, https://myforeclosuredate.com/
- Click Here to download our Free eBook, “Bringing Closure to Foreclosure” https://rebuildny.com/our-book/
This is for information purposes only. Subject to change without notice. It is not to be construed or relied upon as legal or accounting advice. Please click here for our complete disclaimer, https://rebuildny.com/disclaimer/