A lender can only recover a deficiency judgment from a borrower if the borrower was personally served with the foreclosure complaint and failed to respond to the complaint. If the borrower responded to the foreclosure lawsuit then the lender has no right to a deficiency judgment even if there is a discrepancy between the amount recovered at the public foreclosure sale and the amount owed on the loan.
Speak to an Experienced Foreclosure and Alternatives Attorney Today
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.