Question Details

Suzanne Hell…, Home Seller in 92128

Can the bank sue for the difference between the sale price of my home and the balance of the loan?

Asked by Suzanne Hellmers, 92128 Sat Nov 22, 2008

I refinanced my home, and now I am 90 days behind in my loan payments. Can the bank sue me for the difference between the eventual sale price of my home on a foreclosure and the unpaid balance of my loan, plus fees and costs? Is it common for banks to do this?

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2
Techically, yes. You signed a Note that said you promised to pay them X amount of dollars. But, practically speaking, they don't have the time or the resources to go after people for the difference.

I can help you get a short sale negotiated where you will not owe them.

Call me at 877-282-5789.
Web Reference: http://fredglick.com
0 votes Thank Flag Link Sat Nov 22, 2008
Suzanne,

This is a legal question best responded to by an attorney. For the best advice, we recommend you contact an attorney.

Good luck
0 votes Thank Flag Link Sat Nov 22, 2008
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