Can a lender sue me for defiency?
Yes, Without a full release from your lender, your lender can and may come after you for any defiency owed. If you short sell your property, your lender has six (6) years to file a deficiency action against you. Contrarily if your property is foreclosed upon, your lender only has six (6) months from the date of the Trustee’s Sale to file a defiency action against you. Additionally, any lenders holding a second mortgage or home equity line of credit have six (6) years in either scenario to file a defiency action against you.
Related Questions
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