We Are About to let our home be sold in a sheriff's sale this coming Tuesday (Sept 30, 08) It's basically my husband's idea. We checked into chapter 13, but decided it was a way too strict "plan" again.. a long story, but its been decided.. My fear is that we will be slapped with court and attorney fees when foreclosure is completed. Does anyone know if we will be made to pay these factors? We live in Indiana.:unsure
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Not only that, if the house sells for less than you owe, you will be slapped with a deficiency judgment for the difference (assuming your state allows deficiencies, most do). Sounds like someone needed to do a little more research before making this decision. -
[My fear is that we will be slapped with court and attorney fees when foreclosure is completed. ]
Most are simply writing it off and sending a 1099.
However, "most" does not mean "all."
With the way things are going, I would expect a cottage industry could spring up with companies buying the rights to collect on the deficiencies.Comment
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