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 Oklahoma?

A lender has 90 days from the date of the foreclosure sale to bring a deficiency judgment action against a borrower. The amount of the deficiency judgment is limited by the fair market value of the property and the lender may not recover amounts in excess of the fair market value of the property, even if additional monies are owed on the property.