Foreclosure Workshop #57: LCP-Maui vs. Tucker — What Every Homeowner Facing Foreclosure Needs To Know About Deficiency Judgments

Your Host: Attorney Gary Victor Dubin
with
Co-Host:  Former Hawaii Governor John D. Waihee 

In most States, as one of the most vicious aspects of the foreclosure system, if the auction sale price is not enough to pay off the balance of a loan, the lender or its collection agency assignee is entitled to a deficiency money judgment.

Deficiency collection can then consist of aggressively garnishing wages, seizing bank accounts, and foreclosing on a borrower’s other real property if any, forcing many borrowers into bankruptcy, further increasing the emotional trauma and financial loss due to being foreclosed on. Continue reading

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