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

Yes, a lender may have the right to sue the borrower for any amounts owed on the original loan that are not satisfied by the foreclosure sale. The lender has three months from the date of the foreclosure sale to file a lawsuit for a deficiency judgment.

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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