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In the state of Nebraska, can a lender sue the borrower for sale shortages

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sistersfive Joined: 17 Apr 2009 Posts: 1 1.00 Dollars($)	Posted: Fri Apr 17, 2009 10:33 am    Post subject: In the state of Nebraska, can a lender sue the borrower for Like 0 Dislike 0 I live in Nebraska and need to try to do a short sale or foreclose on a property I own. I have a home equity loan also, so I can't do a deed in lieu of foreclosure. I read somewhere that only in SOME states - can the lender sue for the difference in the amount received from the short sale or foreclosure sale and the amount owed on the property. Can you tell me if Nebraska is a state where they can sue for the difference?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Sun Apr 26, 2009 8:43 pm    Post subject: Like 0 Dislike 0 Hi sistersfive! As far as I know, deficiency judgments are allowed in Nebraska. The lender has the right to collect the deficient amount from you once your property is foreclosed or you go for a short sale. Feel free to ask if you have further queries. Sussane

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