Insurer Can Sue for Unpaid Mortgage Debt

Short Sale Attorney, Short Sell Lawyer

Private Mortgage Insurance can sue you after foreclosure or short sale for the deficiency balance

The most important thing to learn before short selling a property or being foreclosed upon by the lender is whether or not the deficiency will be waived. If the deficiency has been waived then your responsibility to pay that debt has been excused. If the deficiency was not waived when your property was short sold or foreclosed upon and your loan had private mortgage insurance, then be prepared for a potential lawsuit.

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Any information on this website is not intended to be communicated as legal advice. All information contained on this site is general and intended for information purposes only. For detailed legal advice regarding your loan modification, foreclosure, and/or bankruptcy needs, please schedule an appointment with the attorney. The Law Office of Emil Fleysher, P.A. is a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.