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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Not very likely Posted by Ward-CA- on April 04, 2002 at 6:49 AM In Reply to: 2 questions posted by Jim T. on April 02, 2002 at 9:41 AM : #1 concerns publication of foreclosure sale. On another : website concerning state procedures, it said that in Ar., it has to be published once a week for 4 consecutive weeks. The lady I talked to in collections said she didn't think that was true. Is it? : #2 concerns deficiency. I have read in many other posts the likelyhood of deficiency action is rare, but I guess I need some reassurance. The bank is foreclosing on 16 acres of land we have in Ar. We live in Mo. and live in a house we own, worth about 35,000, on which we owe about 25,000. The 16 acres in Ar. is in default for about 23,000. If it would only sell for, let's say 19,000,what would be the likelyhood of the Ar bank. them coming after our home in Mo. for a 4,000 deficiency, since we do have maybe 10,000 in equity in our home residence? How long is the statue of limitations on pursuing deficiency actions? ( ok that's a 3rd question, sorry) : Thank you : Jim =•=•=•=•=•=•=•=•=•=•= Jim, #1. I’m sorry but I haven’t gotten around to studying the foreclosure procedure for AR yet. #2. It is highly unlikely that a lender would pursue a small deficiency and then try to collect it in another state. #3. I don't know about AR, but here in CA judgments are good for 10 years. They can be renewed around 9.5 years, but again older judgments are hardly renewed. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : #1 concerns publication of foreclosure sale. On another : : website concerning state procedures, it said that in Ar., it has to be published once a week for 4 consecutive weeks. The lady I talked to in collections said she didn't think that was true. Is it? : : #2 concerns deficiency. I have read in many other posts the likelyhood of deficiency action is rare, but I guess I need some reassurance. The bank is foreclosing on 16 acres of land we have in Ar. We live in Mo. and live in a house we own, worth about 35,000, on which we owe about 25,000. The 16 acres in Ar. is in default for about 23,000. If it would only sell for, let's say 19,000,what would be the likelyhood of the Ar bank. them coming after our home in Mo. for a 4,000 deficiency, since we do have maybe 10,000 in equity in our home residence? How long is the statue of limitations on pursuing deficiency actions? ( ok that's a 3rd question, sorry) : : Thank you : : Jim : =•=•=•=•=•=•=•=•=•=•= : Jim, : #1. I’m sorry but I haven’t gotten around to studying the foreclosure procedure for AR yet. : #2. It is highly unlikely that a lender would pursue a small deficiency and then try to collect it in another state. : #3. I don't know about AR, but here in CA judgments are good for 10 years. They can be renewed around 9.5 years, but again older judgments are hardly renewed. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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