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

Sometimes. A lender may sue a borrower for a deficiency judgment in Arkansas if the foreclosure sale occurred through a non judicial foreclosure procedure pursuant to a power of sale clause. If the property sells at the public foreclosure sale for less than the amount owed the lender then the lender may sue for a deficiency judgment within 12 months of the foreclosure sale.

The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.

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