Very simple question to which there is almost no information on the web...
Has anyone actually been hit with a Deficiency Judgment on a HELOC or Mortgage after a short-sale or Foreclosure? Or do you know of anyone who has?
Some people do settle the seconds to avoid the possibility. But I cannot find any instance where a deficiency has been sought in court. My home had been my greatest asset and over 3 years has turned into my greatest liability. It was valued at $610k in 2006 and in 2010 Zillow had it at $250k, in suburban St. Louis.