NEW ISSUES IN FORECLOSURES

As predicted, with so many homes "underwater" and so many homes selling at auction for less than the amount due, banks will soon address the deficiency judgments.

This was discussed recently by The Washington Post:

WASHINGTON POST - Lenders seek court actions against homeowners years after foreclosure

Note the potential liability for exposure in NY - 26 years after judgment sale, the homeowner is still open to litigation on the amount due.