How long can you be sought for Deficiency Judgments?

[ilzhoefer]

Hello:

I am trying to find out what the law is in NC for a completed SS or foreclosure concerning how long a lender has to seek a deficiency judgment against an owner?

Any guidance is appreciated.

[StartingOver10]

The time period that they can come after you for deficiency judgments varies by state.

North Carolina has some statutes that protect the consumer from receiving a deficiency judgment. NOLO has a good summary about the limitations placed on lenders pursuing consumers after a f/c. Search NOLO.com and North Carolina deficiency judgments to see the protections. Naturally you might want to look up legal sites and speak to an attorney as well.

Here is a direct quote from NOLO:  The statutes governing foreclosures can be found in §§ 45-21.1 to 45-21.38 of the North Carolina General Statues which can be accessed on the North Carolina General Assembly webpage at www.ncga.state.nc.us/gascripts/statutes/statutes.asp.