Real estate reporter Laura Layden had some questions on deficiency judgments. Ms. Layden contacted Oppenheim Law to obtain the answers for her business story. Roy Oppenheim shared views on the state of the real estate market.
Here are a few excerpts from the story-
“Oppenheim, a leading foreclosure defense attorney in Florida, represents many homeowners in the state who are facing deficiency judgments. There has been legislation proposed to try to limit them in Florida, but it has gone nowhere, he said.”
“Some states don’t allow the judgments.”
“Most often, banks pursue deficiency judgments when they are the buyers at the auction,” Oppenheim said. He estimates that lenders are getting the judgments on less than five percent of foreclosed properties in Florida today. “But it’s creeping up,” he said.
“The best way to avoid such judgments is to fight a foreclosure every step of the way, and not to just allow a bank to take your property,” Oppenheim said.
For the full article see http://www.naplesnews.com/news/2010/sep/01/foreclosure-deficiency-judgments-rise-lee-county/
