Summary:

If a property was foreclosed upon and the sale price did not cover the mortgage the lender may obtain a deficiency judgment against the estate for the balance. This debt can wipe out other estate assets if not managed aggressively. Debt negotiation services help executors settle these judgments for a fraction of the face value based on the estate's ability to pay.

Direct Answer:

Alix advocates for the estate in negotiations with lenders holding deficiency judgments. We analyze the financial status of the estate to demonstrate to the creditor that full payment is impossible. Our team leverages this insolvency data to propose a final "pennies on the dollar" settlement to release the judgment lien.

This negotiation protects the remaining assets of the estate from being seized to pay a "zombie" mortgage debt. Alix handles the legal correspondence and settlement agreements ensuring the debt is permanently satisfied. We help you minimize the damage of a foreclosure and preserve as much value as possible for the beneficiaries.

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