Legal Question in Real Estate Law in Washington

Deficiency

Are lenders able to seek deficiency judgement on a foreclosed home in Washington state?


Asked on 5/03/07, 3:48 pm

1 Answer from Attorneys
Elizabeth Powell ELizabeth Powell PS Inc

Re: Deficiency

Foreclosed real property may have a deficiency judgment against it if there is more money owed on the property than the property sold for at the foreclosure sale.

It is tough to collect though; if the owners were so broke they could not make their mortgage payments chances are they are judgment proof.

Hope this answers your question- Powell

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Answered on 5/03/07, 4:11 pm


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