What Is a Deficiency Judgment?

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Avoiding a Deficiency Judgment

Lake County loan debt attorney

When facing financial hardship, many homeowners face the threat of lawsuits from creditors. If you are facing foreclosure on your home or you have been threatened by a collection agency, it is important to have a clear understanding of your rights under the law. A deficiency judgment by a bank after foreclosure is one of the greatest dangers for many homeowners.

I am Merideth Nagel, an experienced Clermont, Florida, attorney dedicated to protecting my clients who are overwhelmed by debt and unable to keep up with mortgage payments. If you are a homeowner behind on your mortgage payment, facing foreclosure or the public auction of your home, you could potentially face a deficiency judgment. A deficiency judgment after a foreclosure is a money judgment requiring you to pay the difference between how much you owed on your mortgage at the time of the foreclosure sale, and the value of property at that time.

As your Clermont attorney for defending a deficiency judgment, I will mount every available defense and negotiate with your lender to achieve the best possible results.  I will explore all of your options and aggressively advocate to mitigate the consequences of a foreclosure action. Some of your options include:

  • A short sale and subsequent discharge of debt
  • Preventing a foreclosure by defending your case on its merits
  • Bankruptcy and lien stripping under Chapter 7 and Chapter 13
Preventing a Deficiency Judgment

Homeowners who are threatened with deficiency judgments need experienced counsel to help them explore options and prevent a deficiency judgment.  A deficiency judgment could result in paying off debt years into the future,  making your financial problems even worse.

Contact an Experienced Deficiency Judgment Defense Lawyer

As an experienced mortgage law and bankruptcy attorney, I will never stop fighting to protect what is most important to you. To schedule an initial consultation with a Lake County Loan Debt Attorney, call 352-394-7408 or fill out Free Case Evaluation contact form today. We want to understand your concerns and provide the help you need immediately.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.


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Serving West Orange County, Lake County, Sumter County & Marion County


    The more I get to know her the more convinced I am that she is the right attorney for me. The compassion and integrity I have seen is quite remarkable and I highly recommend you use her office to service… ~ Kelly,


    Ms. Nagel represented my wife and I in a bankruptcy case and also in a recent real estate transaction. I felt compelled to share our experience. Ms Nagel and all of her staff handled everything in a very professional matter… ~ Mike,


    Merideth Nagel has been a help to me, over the last 10 years, for multiple legal issues! As her client, and as a realtor who utilizes her real estate and title services, Merideth, along with her phenomenal staff, has afforded… ~ Tiki Jackson,


    “If it weren't for Merideth Nagel and her top-notch team of seasoned professionals, I shudder to think where my family would be today. At this firm, you are not a name, a face, a case number, or a quagmire. You… ~ Heather, Clermont


    “Merideth and her team have been a real blessing to me over the years! She helped me with real estate several times and estate planning. I can recommend her with full confidence!” ~ Nancy, Orlando


    “We utilized Nagel Law to assist us with a real estate transaction a little over a year ago. Merideth and her entire staff treated us with the utmost professionalism as well as eased our minds pertaining to this transaction. We… ~ Lynette, Orlando