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I have attempted, but been unable to sell the house for what I owe. What happens if the house goes to foreclosure and it sells for less than the loan?

April 26, 2017attempted foreclosure happens House loan sell sells

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I have attempted, but been unable to sell the house for what I owe. What happens if the house goes to foreclosure and it sells for less than the loan?

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– If the proceeds of the sale are insufficient to pay back the loan, the lender can sue you personally for the balance, also known as the “deficiency” on the loan.