What is the name of your state (only U.S. law)? NM
In 2003, I sold a home on which I still was paying a mortgage. I sold it on a contract and my buyers became seriously delinquent until I had to foreclose on them and take the home back. Unfortunately, I was unable to catch up on the mortgage myself and ended up losing the property. The Mortgage Company offered the house at public sale and sold it for less than I owed them. A deficiency judgment was entered against me in the court records for $ 28,000.00, the difference between what I owed and the price they got at sale.
My question is... I have bought and sold several properties since then and gone through title companies in doing so. I am not complaining but I do not understand if this judgment is in the county records, why has it not caused any problem in me obtaining loans or clouded the title to any property I have sold?
In 2003, I sold a home on which I still was paying a mortgage. I sold it on a contract and my buyers became seriously delinquent until I had to foreclose on them and take the home back. Unfortunately, I was unable to catch up on the mortgage myself and ended up losing the property. The Mortgage Company offered the house at public sale and sold it for less than I owed them. A deficiency judgment was entered against me in the court records for $ 28,000.00, the difference between what I owed and the price they got at sale.
My question is... I have bought and sold several properties since then and gone through title companies in doing so. I am not complaining but I do not understand if this judgment is in the county records, why has it not caused any problem in me obtaining loans or clouded the title to any property I have sold?