141 N. Meramec Ave., Ste. 24, St. Louis, MO  (314) 925-0239 - Ledbetter Law Firm, LLC
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European Countries Recently Updated Their Bankruptcy Laws Based on the U. S. Bankruptcy Code
Megabank Citigroup Settles Investors' Case for $730,000,000.00
Mortgage Lender Seeks Deficiency Balance After Foreclosure
St. Louis Bankruptcy Attorney Frank Ledbetter's clients receive discharge of over $79,000 in debt

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Bankruptcy Law Revisions
Deficiency Debts
Litigation Against Banks
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Deficiency Debts

Mortgage Lender Seeks Deficiency Balance After Foreclosure

St. Louis Bankruptcy Lawyer Frank Ledbetter recently learned of mortgage lender CIT's efforts to collect a deficiency balance on a mortgage loan after it foreclosed on a homeowner's first mortgage.  Historically in Missouri, mortgage lender's tended to only attempt to collect deficiency balances (the amount still owed on a foreclosed mortgage after deducting the sale proceeds which the mortgage lender received from the loan balance owed at the time of foreclosure) for second or third mortgages on residences and on properties used for commercial purposes.