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

Yes, New York lenders have the right to sue borrowers for loan amounts that are still owed after a foreclosure sale has occurred. A New York lender has 90 days from the date of the foreclosure sale to initiate a lawsuit for a deficiency judgment if one is sought.

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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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