What Is a Deficiency Balance?

Deficiency balance lawsuits are an unfortunate part of the aftermath of the real estate boom in the 1990s and early 2000s. During this period of time, banks and other lending agencies were very liberal in their mortgage and loan agreements for new and established homebuyers. In the event that a homeowner is not able to pay back the full amount of his or her mortgage, a deficiency balance suit may be filed on behalf of the bank.

A deficiency balance suit will require the homeowner to pay back the mortgage in full. Rather than go through the hassle of filing a deficiency balance claim, many banks and lending agencies choose to perform short sales. A short sale realtor in Atlanta can help sell a home quickly, and for less than its appraised value. Many real estate companies specialize in this type of real estate transaction. If you need help buying or selling a home, you should be sure to contact a real estate agent in your local area today.

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What Sets Mark Teytel Apart?

  • Broker-Owner Since 1998
  • NRBA, NAMAR and NAR Member
  • Real Estate Professional Since 1994
  • John Marshall Law School Graduate
  • Annually, Manage and Sell Over 300 homes
  • Gwinnett Daily Questions and Answers Columnists
  • West Law Award Recipient For Business Excellence
  • Phoenix Award Recipient - Top Real Estate Producer
  • Radio Show Host and Guest Expert for WSB and WGST
  • Five Star Institute, Equator, Resnet Certified REO and Short Sale Expert