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 Mississippi?

Yes, it is possible for a lender to sue a borrower for a deficiency judgment in Mississippi.  The lender is entitled to sue for the difference between the amount owed and the amount that has already been paid on the debt, including any amounts earned from the foreclosure sale. The lender has one year from the date of the foreclosure sale to file a deficiency judgment action.