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If I don’t use a lawyer to get the bank to waive a deficiency judgement on a short sale then how long does the bank have the right to come after me fro the deficiency?

April 26, 2017Bank Deficiency don’t judgement Lawyer right sale short waive

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If I don’t use a lawyer to get the bank to waive a deficiency judgement on a short sale then how long does the bank have the right to come after me fro the deficiency?

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Depending on the state that you live in, a bank has a long time to collect the deficiency left on your promissory note after the sale of your property. For instance, in Illinois, a lender has ten (10) years to collect on the deficiency. In Arizona, on the other hand, a lender has six (6) years to collect on the deficiency and a lender in California has four (4) years.