Sheriff Sale balance
Can you send me info on whether or not a borrower is obligated to pay the remaining balance on a sheriff sale? I have been told after six months it is forgiven.
Asked on 11/14/06, 5:27 pm
1 Answer from Attorneys
Gerald Hershenson
Law Office of Gerald M. Hershenson
Re: Sheriff Sale balance
You are not obligated to pay the balance unless there is a deficiency that is determined by a Court. The party foreclosing has six months after the sherrif sale to bring a deficiency action. You will be given notice and have an opportunity to defend. After six months the deficiency action is barred. Gerald Hershenson Esq.
Answered on 11/15/06, 8:24 am
