Can a mortgage lender sue me for the difference after a foreclosure?

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Can a mortgage lender sue me for the difference after a foreclosure?

I owned a home in Virginia that was
foreclosed on ten years ago, in April of
2007. Is there any possibility that, after
all this time, the mortgage lender will
attempt to collect the difference between the
balance of the mortgage and what the home
sold for after foreclosure? Is there a
statute of limitations on that?

Asked on January 8, 2017 under Real Estate Law, Virginia

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

It is too late to sue you for the deficiency judgment (though if they had not waited so long, they could have): the statute of limitations for this suit would be the one for written contracts (since it would be based on breach of the mortgage, a written agreement), which is only five (5) years in your state. So if you defaulted at least 10 years ago, it is now too late for them to sue.


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