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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] You can rest easy... Posted by Ward-CA- on July 28, 2010 at 2:51 PM In Reply to: Re: All you can do... posted by Yann on July 28, 2010 at 12:19 AM --------------------------------------------------------------------------------------------------------------------- Yann, Here’s the gist of MD’s foreclosure process: http://tinyurl.com/MD-foreclosure Reading the MD foreclosure procedure it seems like a crossover blend of a trustee/sheriff sale process with an initial court action thrown in. As I mentioned in my initial response, you don’t seem to me to be a good prospect to pursue a deficiency judgment due to the fact that you are located out-of-state and you don’t own any substantial real or personal property assets. ---------------Ward ========================= Thanks for your reply Ward. It does explain a lot about the procedure overall and lift some of the worries. I have a question for you though about the "Maryland is a non-judicial, trustee sale state" quote. The couple of references I found actually mention that Maryland is a judicial foreclosure state. Here is an example for reference: - http://www.all-foreclosure.com/procedures.htm But things may have changed since that article came up or I may not understand all the subtle differences between each state when it comes to foreclosure. At any rate, given that the next biggest material assets we own after this house are our car, a 10 y/o PT Cruiser, and my motorcycle, a 9 y/o suzuki, would it make sense for them to go for a deficiency judgment? Do they look into more liquid assets, like 401k, IRA etc... to make that decision ? Thanks for your help Follow Ups: Re: You can rest easy... yann 3:02 PM, 07/28/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : --------------------------------------------------------------------------------------------------------------------- : Yann, : Here’s the gist of MD’s foreclosure process: : http://tinyurl.com/MD-foreclosure : Reading the MD foreclosure procedure it seems like a crossover blend of a trustee/sheriff sale process with an initial court action thrown in. : As I mentioned in my initial response, you don’t seem to me to be a good prospect to pursue a deficiency judgment due to the fact that you are located out-of-state and you don’t own any substantial real or personal property assets. : ---------------Ward : ========================= : Thanks for your reply Ward. It does explain a lot about the procedure overall and lift some of the worries. I have a question for you though about the "Maryland is a non-judicial, trustee sale state" quote. The couple of references I found actually mention that Maryland is a judicial foreclosure state. : Here is an example for reference: - http://www.all-foreclosure.com/procedures.htm : But things may have changed since that article came up or I may not understand all the subtle differences between each state when it comes to foreclosure. : At any rate, given that the next biggest material assets we own after this house are our car, a 10 y/o PT Cruiser, and my motorcycle, a 9 y/o suzuki, would it make sense for them to go for a deficiency judgment? Do they look into more liquid assets, like 401k, IRA etc... to make that decision ? : Thanks for your help [ 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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