Yes, a lender can sue a borrower for a deficiency judgment if the lender is still owed money after a property foreclosure sale in South Dakota. However, the amount of the deficiency judgment can be no more than the difference between the amount owed on the property and the fair market value of the property, even if the foreclosure sale was for less than fair market value.
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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.