Foreclosure & Alternatives Law

Can a Lender Sue a Borrower for a Deficiency Judgment if the Lender is Still Owed Money After a Foreclosure Sale in Minnesota?

Yes, a lender may recover from a deficiency judgment from a borrower. All amounts previously paid on the mortgage and the amount earned from the foreclosure sale must be applied to the debt before the lender can determine the amount to sue for in a deficiency judgment.