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What is a Deficiency Judgement?
If your home is sold at auction for less than what you owe, the lender can sue you for the remaining balance.
Are They Common in NY?
Less common but still possible. Especially if:
How to Avoid It
We structure sales that clear the balance so you don’t carry that weight.
Also Read: How to Talk to the Bank About Foreclosure
We help Long Island, NY homeowners keep or sell their home. We are empathetic and put your needs first.
The information on this website is for general informational purposes only. We are not attorneys, and nothing on this site should be considered legal, financial, or tax advice. Every homeowner’s situation is different. Always consult with a licensed attorney before making any decisions regarding foreclosure or your property. If needed, we’re happy to refer you to one who may offer a free consultation.
We help Long Island, NY homeowners keep or sell their home. We are empathetic and put your needs first.
The information on this website is for general informational purposes only. We are not attorneys, and nothing on this site should be considered legal, financial, or tax advice. Every homeowner’s situation is different. Always consult with a licensed attorney before making any decisions regarding foreclosure or your property. If needed, we’re happy to refer you to one who may offer a free consultation.
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