| What is a “deficiency”? |
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A “deficiency” in a short sale refers to the difference between the balance owed on a loan and the pay off amount received by the lender from the proceeds of the sale. This difference is the amount the sale proceeds are “deficient” in paying off the total amount owed on the loan. |
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"Since I began working with the Rasmussen Law Office two years ago, I have been able to rest assured knowing that any short sale listing that I refer to them will close. You will never have to wonder what is happening with your sale because of their commitment to follow up with you and your clients. The law office can also help your client deal with the tax implications and deficiencies after their short sale closes. I highly recommend the law office to any Realtor who can’t afford to gamble with closing their short sales. Thanks for all your help, Note: This testimonial or endorsement does not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter. |
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