Category: Short Sales

Implications of Short Sale or Foreclosure: Recourse vs. Non-Recourse Debt

A deficiency judgment is the assessment of personal liability against the seller for the unpaid balance of the mortgage debt when the proceeds of a foreclosure or short sale are insufficient to satisfy the debt. Such liability is typically crushing

Posted in Short Sales

Caveat Venditor! Short Sale Sellers Beware!

Many have heard the latin phrase caveat emptor (translation: “let the buyer beware”). However, in the current real estate market, I find caveat venditor (translation: “let the seller beware”) much more appropriate. With foreclosure filings and notices of default increasing

Posted in Short Sales