When borrowers obtain a mortgage loan, they sign a Note, promising to repay the loan, and a Mortgage, that provides for the property to be sold at a public auction if they default, so the loan may be repaid from the proceeds of the sale. Sometimes, however, the property is sold at the auction for less than the balance due to the lender, resulting in a deficiency.
Many litigation attorneys are very good at what they do - winning cases and obtaining judgments. But once they obtain a judgment, their clients are not always voluntarily paid what they have been awarded, and the judgment must be enforced. In order to do so, the debtor’s assets must first be located so enforcement proceedings can commence.