Money Pays The Rent: Debt Colectors Love Foreclosure Deficiency Judgments

Florida Real Property Law and Litigation – Similarly, if any other party, injured by the foreclosure judgment, does not fit within one of the statutory exceptions in Fla. Stat. 702.036(1)(a), that party can only seek money damages. V. Community Associations, and Other Lienholders, can Obtain the Fast-Tracked Order to Show Cause Proceedings.

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Blogs | Firsttimehomebuyerclearwaterfl – Money Pays The Rent: Debt Colectors Love Foreclosure Deficiency Judgments Repair Your Bad Credit With future fico: december 2014 – 3rd party debt collectors buy bad debt, including deficiency judgments. So, even though they will claim you have to pay the judgment amount plus interest and fees, you don’t have to pay them!!

Money Pays The Rent: Debt Colectors Love Foreclosure. – The debt collectors have been purchasing deficiency judgments and the right to pursue them from foreclosure actions in judicial foreclosure states. Florida deficiecny judgments are particularly tasty to the debt collectors who purchse default judgments. The judgments in florida are then used to collect money that goes in the debt collector’s pockets.

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A collection agent or law firm that owns a collection account is a creditor. A creditor has several legal means of collecting a debt. But before the creditor can start, the creditor must go to court to receive a judgment. See the Bills.com resource Served Summons and Complaint to learn more about this process.

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