What Is a Deficiency Balance?

A deficiency balance is when the account owner owes more money to the lender than the value of the property. The account owner may be required to pay back the difference in order to keep the property or may be able to negotiate a new loan with different terms. A deficiency balance can occur when the property value decreases or when the borrower misses payments and incurs late fees or penalties.

The Law Offices of Omar Zambrano has helped thousands of the people and businesses in the past to get out of debt and start over.

Our goal is to help you find a fresh start FAST!

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