A deficiency in this context occurs when the sale price of a piece of property at a foreclosure auction is not enough to cover the lender's judgment against the borrower. A deficiency judgment is seperate from the foreclosure judgment and it results in the court awarding the lender a monetary judgment for which the borrower will be personally responsible. Deficiency judgments are not automatic. While most foreclosure judgments contain language refering to a deficiency judgment, it is a...
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The short and simple answer to your question is No. This is assuming that the parties are the same and you are suing for breach of the same oral lease for the same rental period. Taking it one step further, if this is indeed the case, you may subject yourself to what is usually referred to as a 57.105 motion. This motion deals with the filing of frivolous pleadings and other documents, and can result in you being liable for the other party's attorney's fees. However, if you have a...
Your question really raises two issues - what rights do I have against the landlord and what rights may the landlord or the mortgagee have against me? It is also important to check the laws of your individual state regarding the subject , as they can differ significantly. From a purely legal standpoint, if you were to stop paying rent before a final judgment is entered in the mortgage foreclosure the Landlord has the right to evict you or to sue you for breach of lease. The chances of this...
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