Which states have deficiency Judgements?
Which states have deficiency Judgements?
State Deficiency Judgment Laws
| State | Most Common Type of Foreclosure | Are deficiency judgments allowed? |
|---|---|---|
| Delaware | Judicial | Yes. |
| District of Columbia | Nonjudicial | Yes. |
| Florida | Judicial | Yes. |
| Georgia | Nonjudicial | Yes, if a court confirms the foreclosure sale. |
What happens if you don’t pay a deficiency balance?
If you refuse to pay, the debt will most likely be sold to collections. But either the lender or the collector can choose to file a lawsuit against you, which could result in a wage garnishment, a levy against your bank account or a lien against your other property.
How do you settle a deficiency balance?
In your letter offer to settle the deficiency balance for 20 percent of the balance. Continue negotiating through letters if the creditor balks at your initial offer, or call the lender if you’re comfortable negotiating over the phone. Increase your offer once a month until you have a deal.
Do you get any money if your house is repossessed?
After a repossession order, you have no house, but you may still have the debt. This depends on how much of your mortgage is unpaid. If the mortgage amount due is low, the bank or lender will return you your money after paying all the fees and recovering its debt once the sale is made.
Is Discovery Channel airplane repo staged?
Airplane Repo actually started out in 2010 as a more true-to-life, unscripted documentary series. The first season starred Popovich as he traveled around the world repossessing business jets and airliners for big paydays. “The second season they hired a new cast and they staged a lot of it.
How do you get into airplane repossession?
To get started in this job, become a licensed pilot. Learn how to fly as many types of aircrafts as possible. Contact banks about jobs or make contacts with a repossession company. Besides planes, many companies also dabble in boat repossessions.
