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

Yes, North Carolina law provides lenders with the right to sue borrowers for amounts owed on the original loan after the proceeds from a foreclosure sale have been applied to the debt. However, the amount recoverable by the lender is limited by the fair market value of the property.

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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