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01-13-2006, 01:51 AM
| | Junior Member | | Join Date: Jan 2006
Posts: 4
| | | Resigned To Forclosure
What is the name of your state?Hi, I live in indiana ,have been dealing with ocwen mortgage for last year and a half it has been such a nightmare , but from consulting my attorney forclosure may be only option,I do not live in house. bankruptcy is not an option due to owning a business.. what usually happens if you have a deficiency judgement how are size of payments decided ? please any advice is appreciated .! rick |
01-13-2006, 10:37 AM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 71,213
| | Quote: |
Originally Posted by richard1111111 What is the name of your state?Hi, I live in indiana ,have been dealing with ocwen mortgage for last year and a half it has been such a nightmare , but from consulting my attorney forclosure may be only option,I do not live in house. bankruptcy is not an option due to owning a business.. what usually happens if you have a deficiency judgement how are size of payments decided ? please any advice is appreciated .! rick |
**A: sell the property.
Last edited by HomeGuru; 01-14-2006 at 02:54 PM.
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01-14-2006, 09:30 AM
| | Junior Member | | Join Date: Jan 2006
Posts: 4
| | | resigned to forclosure
Hi I think you said sell the house ,it has been on market for a while,ocwen finally sent forms for a short sale but will not respond to any calls or messages even from agent.102000 owed on house only appraises at 85000 to 90000.which brings me back to my original question how does a deficiency judgement usually get figured.. if you have any other advice it is appreciated . thanks rick |
01-14-2006, 02:55 PM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 71,213
| | Quote: |
Originally Posted by richard1111111 Hi I think you said sell the house ,it has been on market for a while,ocwen finally sent forms for a short sale but will not respond to any calls or messages even from agent.102000 owed on house only appraises at 85000 to 90000.which brings me back to my original question how does a deficiency judgement usually get figured.. if you have any other advice it is appreciated . thanks rick |
**A: it is really up to the lender on how they want to handle the shortfall.
They could forgive, make you pay installment payments etc. | |
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