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deficiency judgements in NC

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nclandowner Guest	Posted: Tue Aug 25, 2009 10:06 am    Post subject: deficiency judgements in NC We own land that we can no longer pay. We are underwater on the property and the bank has started foreclosure process. What can the bank come after if a deficiency judgement is awarded. Not much equity in our home. Some cash and stocks but not enough to cover the difference of a land sale.
adonis Joined: 22 Oct 2005 Posts: 3852 Location: ALASKA 120.89 Dollars($)	Posted: Tue Aug 25, 2009 8:11 pm    Post subject: Hi nclandowner, Deficiency judgments are allowed in North Carolina. If there is a deficient amount resulting from the sale of the property, then the lender can sue you for the balance amount. If you are unable to pay the deficient amount, then the lender may garnish your wages or can place lien on your other properties. _________________ Procrastination is the enemy of your financial sucess

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