I know this is one of the first steps in the process, but I'm not sure what it does exactly.
Real Estate Attorney
I am not an attorney in WA but typically a deficiency judgment is one of the last steps. If your property is worth less than what you owe then the lender may get a judgment against you for the difference and then use that to pursue either a bank account, your wages, or another property to compensate them for the loss.
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That judgment only will happen if there is a judicial foreclosure and not in a trustee's sale.
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