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.

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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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