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judicial foreclosure, can bank/mortgage company come after me for the difference for mortgage shortfall in WA state
Darrington, WA
Viewed 1227 times.
Posted about 1 year ago in Foreclosure
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forclousure:
I forclosed on a home that was owed 240,000 on. The morgage company sold it for 179.00. They are now coming after me for the difference. Can they do this?
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Answers (2)Kokie Elizabeth Adams
This attorney is licensed in Washington and 1 other state.
Posted about 1 year ago.
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I assume you are the homeowner that was foreclosed against? If the Bank conducted what is called a "judicial foreclosure" process and did not waive its right to collect a deficiency, then yes the Bank can come after you for the difference.
John Donald Sullivan
This attorney is licensed in Washington.
Posted about 1 year ago.
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I agree with the previous answer. The flip side is that if they conducted a nonjudicial foreclosure (which is more common), then they cannot obtain the deficiency (i.e., they can't come after you). If they actually filed a lawsuite against you, then it was a judicial foreclosure. If they sent you a notice of foreclosure and a notice of trustee's sale, and then held a sale, it was a nonjudicial foreclosure.
PLEASE BE ADVISED: This answer and any information contained herein is not intended to be treated, and should not be construed, as legal advice. Rather, this answer is offered solely for general information purposes. This answer does not create an attorney-client relationship, nor does it create any kind of legal relationship, duty, or privilege. This attorney is licensed only in Washington. |