Trust Properties Are Not Being Pursued For Deficiency Judgments

Jack Shea Real Estate

Many land trust trustees have observed that lenders are not pursuing borrowers for deficiency judgments in foreclosure on the majority of cases. The banks are not trying to serve the borrowers, just the trustee is served. A deficiency cannot be obtained in most jurisdictions unless the borrower has been personally served. Therefore, some borrowers are placing properties into trust prior to foreclosure.

Share with:

Facebook