Legal Question in Real Estate Law in Missouri

I had a home foreclosed on me earlier this year. The home was sold at auction. I recieved a letter from the lender now offering me a chance to settle up on the remaimder of the loan. ( I no longer live ther and haven't live there since the house was foreclosed on.Can they come after me for the balance of a home I no longer own?


Asked on 10/28/10, 4:03 am

1 Answer from Attorneys
Anthony Smith LawSmith

What they are seeking is called the "deficiency" and is the difference between what you owed and what the house sold for at the auction. Depending upon your loan documents and how the foreclosure was handled, the lender may be able to sue you for the deficiency.

Good luck

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Answered on 11/02/10, 8:05 am


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