If a lender pursues a foreclosure sale through the non judiciary foreclosure process then the lender has no right to sue the borrower for a deficiency judgment if the lender is still owed money on the mortgage after the foreclosure sale.
However, the lender may retain the right to collect a deficiency judgment if the foreclosure was a judicial foreclosure that was administered through the court system.
Speak to an Experienced Foreclosure Attorney Today
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified foreclosure 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 attorney to discuss your specific legal situation.