David L. Montgomery, Real Estate Professional in Waterford Township, MI Email Phone
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David L. Montgomery

"Your Real Estate Doctor"
  • 6 Answers
  • 1 Listing
Agent at D A D Agency Inc.
Experience:
Sales Consultant for D A D Agency Inc. September 2010—present
Residential real estate management and sales. Specializing in REO properties, first time…
Commercial Loan Officer for JP Morgan Chase fka NBD Bank, NA August 1989—September 1993
Managed a $14 million portfolio consisting of secured and unsecured lines of credit,…
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Specialties:
Investors
First time home buyers
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Certifications
& Awards:
Master of Science, Finance - Walsh College of Accountancy and Business Administration - Troy, Michigan
Bachelor of Arts, Business Administration - Siena
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About:
I'm David Montgomery, a full time Realtor in the Oakland County area, and a sales consultant at D A D Agency Inc. I am a member of the North Oakland County ... show more
Testimonials:
"Thanks so much for all your help over the last 5 years! You are always going to go above and beyond the call of duty to take care of our needs, whether ... show more
David L. Montgomery answered:
A foreclosure may not relieve you of a deficiency if your credit union bids less than its mortgage balance at a sheriff sale. It's been happening more and more on Michigan properties because Michigan considers the debt settled if the bank (or credit union) bids the full amount the loan at sheriff sale. Even if it is its own loan.

Banks & mortgage companies are now bidding less than their loan balance to be able (or have the right) to come after you for the difference. I would recommend consulting with an attorney on this because it can be rather tricky. - Tue Dec 7, 2010
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