Anyone??

[dubogey]

Auction is set for Feb 23rd in Va. Assuming there is a difference between auction and actual money owed on the property how long til I get notice of a deficiency judgment or a 1099 form? I have nothing of any real value upside down in car no other house/boat $3000 in 401K. If the lender does get a defiency judgment I will file chapter 7, if they don't and send me a 1099 can the PMI company sue me? Thank for any help....GL to all

[BobMango]

I had a house sell at foreclosure in late October of 2009 and received notice from Wells Fargo on the deficiency in December. Not sure if that is the usual timeframe, but they moved pretty quickly judging from other's experiences. From first missed payment to foreclosure sale was eight months. Then two months for the deficiency notice.

I've never heard of PMIs going after deficiency judgements but others with experience in this may chime in.

[BCA2009]

Probably depends on the State. From what I understand, some states allow automatic deficiency judgements for the difference at the auction date. Other States require the bank to come back to the court and actually sue for the deficiency. I sure this would take alot longer.

[dubogey]

thanks for the help guys....anyone out there NOT get sued at all after BK???