Re: To file BK or wait
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Posted by Why Chat (209.240.205.61) on December 14, 2003 at 19:16:20:
In Reply to: Re: To file BK or wait posted by Techie on December 14, 2003 at 18:27:00:
Assuming your 2nd and 3rd mortgages were not with your 1st mortgage holder, you had an option on foreclosure that would have eliminated any possible claim for any deficiency. Did you have a lawyer advise you during this proccess?? Even so, and I haven't even gotten into the banking laws, there are several ways in which you may be exempt from a claim of a deficiency.
Here is a link to some basics. Iowa has some of the toughest foreclosre laws around, with a LOT of consumer protection.
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