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Can the bank comes after you for more money years after your house foreclosed?

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noi_jai2002 Joined: 28 Jan 2009 Posts: 3 1.87 Dollars($)	Posted: Mon Mar 14, 2011 9:40 am    Post subject: Can the bank comes after you for more money years after your Like 0 Dislike 0 I live in Iowa and my house was foreclosed on last year and I have heard from someone that the bank could still come after you for more money even after 10 years after a foreclosure...Is that true? I do not remember getting anything from the bank to sign. Shouldn't there be something I need to sign that said I no longer have the right to my house? please help and I so scared!!
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Mar 14, 2011 7:37 pm    Post subject: Like 0 Dislike 0 Hi noi_jai! Welcome to forums! Once you surrender the property to the lender at the time of foreclosure, you lose your rights to the property. As far as deficient balance is concerned, there can be a time period within which the lender can come after you in order to collect the balance dues. This time period may vary from state to state. Feel free to ask if you've further queries. Sussane

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