Posted on: 17th Apr, 2009 10:33 am
i live in nebraska and need to try to do a short sale or foreclose on a property i own. i have a home equity loan also, so i can't do a deed in lieu of foreclosure. i read somewhere that only in some states - can the lender sue for the difference in the amount received from the short sale or foreclosure sale and the amount owed on the property. can you tell me if nebraska is a state where they can sue for the difference?
Hi sistersfive!
As far as I know, deficiency judgments are allowed in Nebraska. The lender has the right to collect the deficient amount from you once your property is foreclosed or you go for a short sale.
Feel free to ask if you have further queries.
Sussane
As far as I know, deficiency judgments are allowed in Nebraska. The lender has the right to collect the deficient amount from you once your property is foreclosed or you go for a short sale.
Feel free to ask if you have further queries.
Sussane