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Investment property in TX and live in CA

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kimfungchu Joined: 10 Feb 2010 Posts: 1 1.27 Dollars($)	Posted: Wed Feb 10, 2010 8:03 pm    Post subject: Investment property in TX and live in CA Like 0 Dislike 0 The mortgage company is putting the property on auction. Will they come back to me with Deficiency Judgment? I did try to short sales but the mortgage company did not approve the selling price. please advise! I am very concern.
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Wed Feb 10, 2010 9:39 pm    Post subject: Like 0 Dislike 0 Hi kimfungchu, Is your lender foreclosing the property or have you applied for a deed in lieu of foreclosure? In case of a foreclosure, the lender will be able to come after you for the deficient amount. But if the lender has agreed to go for a deed in lieu, then he will forgive the deficient balance. Thanks

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