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Roger
Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 31601
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I live in NY and filed chapter 7 bankruptcy in 2009. I

Customer Question

I live in NY and filed chapter 7 bankruptcy in 2009. I didn't reaffirm the mortgage. I signed of the deed to a third party and I am receiving notices from supreme court. Can I be held liable for the loss the mortgage company takes on the sale.
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  Roger replied 1 year ago.

Hi - my name is ***** ***** I'll be glad to assist.

Yes, lenders can seek deficiency judmgents from the foreclosed owner, but it is limited to the fair market value --- not what is owed. So, that can help the deficiency. Here's a good link: http://www.nolo.com/legal-encyclopedia/deficiency-judgments-after-foreclosure-new-york.html