How to Avoid a Deficiency Judgment

You might be able to avoid owing your lender a deficiency after foreclosure.

The laws of most states allow lenders to go after borrowers for a deficiency—that is, the amount by which the foreclosure sale proceeds fall short of the loan amount. However, a few states protect homeowners from liability for deficiencies from mortgages on residential homes that were used to purchase the homes, or make it too expensive for the lender to pursue the issue. For the rules in each of the 50 states, see our Deficiency Judgments After Foreclosure page (click on your state name).â

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