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After Foreclosure
Topics
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Deficiency Judgments After Foreclosure
When a property is sold at a foreclosure sale, the total amount that the borrower owes to the bank sometimes exceeds the foreclosure sale price. The borrower’s total debt minus the sale price is called a "deficiency." In some states, the foreclosing bank can ask a court for a personal judgment—called a “deficiency judgment”—against the borrower for the amount of the deficiency. Below, you can find out if deficiency judgments are allowed in your state.
- Getting Your Home Back After Foreclosure
- When You Have to Move Out After Foreclosure
Recent Articles
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Connecticut Deficiency Judgment Laws
by Amy Loftsgordon, Attorney · University of Denver Sturm College of Law
Connecticut, unfortunately, doesn't have an anti-deficiency law. ... Read more
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What Are West Virginia's Deficiency Judgment Laws?
by Amy Loftsgordon, Attorney · University of Denver Sturm College of Law
If the proceeds from a foreclosure sale don't pay off your mortgage debt, the bank may sue you for the "deficiency." ... Read more
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What Are Louisiana's Deficiency Judgment Laws?
by Amy Loftsgordon, Attorney · University of Denver Sturm College of Law
If you, a Louisiana homeowner, go through foreclosure, but the sale price is not enough to pay off the balance of your mortgage debt, your bank can come after you for the "deficiency." ... Read more
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What Are Tennessee's Deficiency Judgment Laws?
by Amy Loftsgordon, Attorney · University of Denver Sturm College of Law
Learn about deficiency judgments after a Tennessee foreclosure. ... Read more
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What Are Minnesota's Deficiency Judgment Laws?
by Amy Loftsgordon, Attorney · University of Denver Sturm College of Law
Learn how foreclosures in Minnesota work, and whether a bank can get a deficiency judgment after a foreclosure in Minnesota. ... Read more
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What Are Oklahoma's Deficiency Judgment Laws?
by Amy Loftsgordon, Attorney · University of Denver Sturm College of Law
If a foreclosure in Oklahoma results in a deficiency, in most cases, the bank can seek a deficiency judgment against the borrower. ... Read more
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Wisconsin Deficiency Judgment Laws
by Amy Loftsgordon, Attorney · University of Denver Sturm College of Law
In Wisconsin, a foreclosing bank can ask the court for a deficiency judgment—but it has a good reason not to do so. ... Read more
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Indiana Deficiency Judgment Laws
by Amy Loftsgordon, Attorney · University of Denver Sturm College of Law
In Indiana, a bank may generally get a deficiency judgment after a foreclosure. But if you agree to a faster foreclosure—and the bank consents—you can prevent this from happening. ... Read more
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New York Deficiency Judgment Laws
by Amy Loftsgordon, Attorney · University of Denver Sturm College of Law
The foreclosing party may seek a deficiency judgment against a homeowner after a New York foreclosure. ... Read more