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-   -   Can a bank come after the homeowner after they have been foreclosed? (https://www.askmehelpdesk.com/showthread.php?t=497205)

  • Aug 11, 2010, 11:40 AM
    sheenyman
    Can a bank come after the homeowner after they have been foreclosed?
    When a person loses their home, can they still be sued for the remaining balance?
  • Aug 11, 2010, 01:19 PM
    JudyKayTee

    Where and what type of mortgage?
  • Aug 11, 2010, 01:37 PM
    ScottGem

    Generally the house will be sold at auction and the proceeds applied to the balance. With current laws, I believe the lender cannot go after the home owner for the balance, but if they "forgive" the balance, that becomes taxable income to the homeowner.

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