When dealing with a Tampa foreclosure or short sale a lot of questions arise and one of them might be "What is a deficiency judgment and how does it impact me?"

Well, a deficiency judgment is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full.

The availability of a deficiency judgment depends on whether the lender has a recourse or non recourse loan, which is largely a matter of state law. In some jurisdictions, first mortgages are non-recourse loans, but second and subsequent ones are recourse loans.

Dealing with foreclosures and short sales can be confusing and overwhelming, so go and see our <a title="Tampa foreclosure" href="http://h4hconsulting.com/cms/video-library/how-will-a-deficiency-judgment-impact-me/" target="_blank">video </a>about deficiency judgments and how it could impact you.