Sometimes. A lender may sue a borrower for a deficiency judgment in Arkansas if the foreclosure sale occurred through a non judicial foreclosure procedure pursuant to a power of sale clause. If the property sells at the public foreclosure sale for less than the amount owed the lender then the lender may sue for a deficiency judgment within 12 months of the foreclosure sale.
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.