Can a Lender Sue a Borrower for a Deficiency Judgment if the Lender is Still Owed Money After a Foreclosure Sale in Arizona?

Sometimes. A lender may not sue for a deficiency judgment if the property is a single family or two family dwelling and is 2.5 acres or less in size. However, in other cases, a lender may sue a borrower for a deficiency judgment for the loan amount that is still owed after the foreclosure sale. The lawsuit for a deficiency judgment must be brought within 90 days of the foreclosure sale.

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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified foreclosure and alternatives lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local foreclosure and alternatives attorney to discuss your specific legal situation.

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