by Larry Tolchinsky | Deficiency Judgments, Florida Foreclosures, Florida Law
Last Update: 10/10/20 A question that often comes up in my practice is whether, and to what extent, creditors can garnish a client’s wages if a deficiency judgment is sought by a creditor after foreclosure. Under §77.01, Florida Statutes, every judgment creditor has... by Larry Tolchinsky | Deficiency Judgments, Florida Foreclosures, Florida Real Estate, Foreclosure Fraud, Wrongful Foreclosure
The sad reality of today’s housing market is that a vast majority of homeowners are unaware that lawyers around the country are raising defenses that are effectively stopping mortgage foreclosures in their tracks. Banks are hoping that this message doesn’t reach the... by Larry Tolchinsky | Deficiency Judgments, Florida Foreclosures
I have written several blog posts relating to foreclosure and deficiency judgments. Generally, most of the people who are in foreclosure have very little assets outside of their home and most are unemployed, which makes the possibility of a deficiency judgment... by Larry Tolchinsky | Deficiency Judgments
Insight from attorney Larry Tolchinsky contributed to a recent article on Bloomberg.com entitled “Lenders Pursue Mortgage Payoffs Long After Homeowners Default.” The article, written by Kathleen M. Howley, summarizes the concept of deficiency judgments and raises the... by Larry Tolchinsky | Deficiency Judgments, Florida Real Estate
A deficiency in the Florida mortgage foreclosure setting is the difference between the value of a lien on real property (the amount due to fully satisfy a debt) and the price obtained by the creditor-mortgagee after foreclosing on the property. For example, if you owe...
