I own an investment property that is not doing well at all and I'm seriously considering foreclosing on it. I've never done this before. When I purchased the property, it was worth much more than it is now. So if I foreclose and the bank isn't able to sell it at the due loan amount, can the bank come after me for the difference in price ? Let's say I owe 50K. The bank was only able to sell it for 20K. Do I owe the bank 30K? Thanks.

Do I owe the bank 30K ??Hello moon:

Sure you do.

excon