Can my bank come after me for a Deficiency
if I let my house go to Foreclosure?

Yes, more often than not. If you have a second mortgage (second deed of trust), the second lender can definitely come after you for whatever they were not paid during the foreclosure action (that amount is called a "deficiency").

This can be a particularly bad result for you. Not only do you now have a foreclosure on your credit record, you can also have a deficiency lawsuit and you may need to file bankruptcy anyway to deal with the second lender and the deficiency. If you file a chapter 7 bankruptcy and if you give the house back to the lenders (not required but often a good idea), there will be no deficiency.

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The Law Office of Matthew D. O'Conner is dedicated to helping clients file bankruptcy while retaining their dignity and pride. We provide assistance, legal counsel and advice and will be able to answer your bankruptcy-related questions and help you file a Washington bankruptcy.

Contact us today at (206) 782-0722 for a free consultation - it's entirely confidential.

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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

This web site is for general informational purposes only and is not legal advice.

The information contained on this web site is in no way intended as a substitute for legal counsel, and your receipt of the information does not give rise to a lawyer-client relationship between Matthew D. O'Conner and you. The ramifications of the law for any particular situation depend on a variety of factors, so you should seek professional legal counsel before acting upon any information contained on this web site.