The thing is, not only do the deficiency judgments affect the homeowner who has to pay it, but the fact that the banks can short sale or foreclose on a property and sell it so cheaply affects the neighboring properties. It makes it almost impossible for a neighbor to sell his/her home at a reasonable price when the appraisers are using the foreclosed properties as comparables.
Anita McKee
Kelseyville
Originally Published:
