Mortgage Deficiency Laws

Deficiency Judgments

What happens if your house is sold at a foreclosure auction for less than the amount you owe on your mortgage? In many states, your lender can come after you for the difference.

Anti-Deficiency Laws

Some states have laws that prohibit deficiency judgments and protect borrowers from having to pay a lender for losses following a foreclosure sale.

Recourse vs. Non-Recourse Loans in Foreclosure

Learn about the differences between recourse and non-recourse loans, and why it's important to find out what type of mortgage loan you have when you're facing foreclosure.

Income Tax Liability for Deficiencies

Don't need to pay back the deficiency? Great! But you may owe taxes on that amount.

How Are Deficiency Judgments Collected?

Your lender sues you for a deficiency and wins, but you can't afford to pay. Now what? Find out whether your lender can garnish your wages or place liens on your assets.

How to Deal with a Short Sale Deficiency Judgment

Worried about owing a deficiency after a short sale? Learn about the steps you can take throughout the short sale process to avoid paying the deficiency.

Bankruptcy & Foreclosure: Mortgage Deficiency Judgments

In some states, you may be on the hook for a mortgage deficiency after foreclosure. Bankruptcy can wipe out your liability.