If you are foreclosed upon and the mortgage balance exceeds the property’s value, the Bank will likely try and come after you for the balance (depending on particular state law and the language in the Deed to the property). That process is called a deficiency judgment.

If the Bank gets a deficiency against you, the deficiency judgment will be recorded in the public records and will be collectable for up to 20 years. In fact, even after you die the Bank can collect against your estate.

Unfortunately, when homeowners walk away from their mortgages without hiring an attorney they expose themselves to the likelihood of having their wages or bank accounts garnished. CAPITAL LAW CENTER Robert W. Carlson & Associates, P.A. tries very hard to avoid our clients ever being subjected to a deficiency. Whether we end of modifying the loan, arranging a short sale or referring the client to bankruptcy counsel, our foreclosure defense attorneys will not let our clients be subjected to the indignity of having to be enslaved to a debt for up to 20 years after loss of the property.

CAPITAL LAW CENTER Robert W. Carlson & Associates, P.A. has not yet had a deficiency judgment entered against any of their clients. Some clients only come to our foreclosure defense attorneys after the bank has foreclosed. CAPITAL LAW CENTER Robert W. Carlson & Associates, P.A still defends these clients against the bank’s attempt to have a deficiency judgment entered against them. We challenge the banks and frequently are able to negotiate an acceptable solution.

Our law firm specializes in providing helpful and beneficial settlements which acquire the most favorable results with the lenders and investors. Call us today for a FREE consultation at 1-866-533-2533 or CLICK HERE to have us evaluation your situation obligation free.