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Can a lender pursue a deficiency judgment against the borrower if it granted the borrower a deed in lieu on a primary residence in Michigan?

jameshogg · Posted: Tue Jul 06, 2010 1:38 am Post subject:

Hi suslibrarian,

In case of a deed in lieu of foreclosure, the lender forgives the deficient balance resulting from the sale of the property. Thus, I don't think that the lender should pursue deficient judgment against the borrower in that case.

Thanks

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DIL and deficiency judgment in Michigan