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If sued for a mortgage deficiency what happens........

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ilzhoefer
Frequent Contributor

If sued for a mortgage deficiency what happens........

Ok here is a really crazy question.

 

If one is sued after the foreclosure for the deficiency balance, has anyone negotiated with the bank after the fact and had them agree to a really small amount?

 

Also. What happens if you do not pay??

 

I really do not want to file BK if this actually does happen (Foreclosure, this weekend, if SS doesn't come through). I have no other baddies and no assests.

 

Thanks

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