Posted on: 17th Oct, 2010 08:46 pm
Our home was foreclosed. Can the lender come after us for the difference. (Example if the original loan was 500,000 and foreclosed, auctioned and sold for 250,000, does the bank have the right to come after the original home owner for the difference?)
Welcome knsluggo,
After a foreclosure, the lender will be able to come after the original owner to recover the balance amount resulting from the sale.
After a foreclosure, the lender will be able to come after the original owner to recover the balance amount resulting from the sale.