What exactly is a mortgage deficiency? Unfortunately in today’s economically unstable world, even after your home is foreclosed you may still owe money to lenders. A mortgage deficiency is the difference between the mortgage owed on a home and the amount that the lenders collected on it when it was sold at auction. A homeowner is responsible for the mortgage deficiency after a foreclosure or short sale. Lenders can pursue deficiencies in over 30 states and it is up to the lender whether or not they will go after a mortgage deficiency. In certain states, a lender can sue if the homeowner fails to pay back these mortgage deficiencies.
Accredited Debt Relief is here to help homeowners that are often times caught off guard by a lender pursuing a mortgage deficiency. If you are being pursued by a lender to pay the remaining balance on your home mortgage after a foreclosure or short sale, Accredited Debt Relief can help put your mortgage deficiency into a debt relief program. By placing your deficiencies into a debt relief program, paying back lenders can become less stressful and more manageable.
To learn more about the debt relief options available to you including California debt relief, Florida debt relief, New York debt relief, and Texas debt relief options visit http://www.accrediteddebtrelief.com/.