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 Washington State?

Sometimes. A lender is entitled to a deficiency judgment only if the mortgage agreement explicitly allows such a judgment. If the mortgage agreement is silent on this topic then the lender’s remedy is limited to the amount of money recovered for the property at the foreclosure sale.