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23 October, 10:07

The proceeds of a foreclosure sale did not yield enough money to pay off the first mortgage holder. The mortgage holder

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  1. 23 October, 10:29
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    In some states and depending if the mortgage was not a non-recourse debt the lender may file a deficiency suit against the borrower. Refinanced loans or home equity loans are not considered non-recourse debt. A deficiency judgement allows a lender to go after other real or personal property the borrower owns.
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