In the event of foreclosure or short sale, the borrower will not be held liable for any deficit balance. (allfinancialmatters.com)
You should know that in some states banks have the right after foreclosure or a short sale to pursue their borrowers for more money. (articles.chicagotribune.com)
And households that were forced into foreclosure or a short sale during the housing crisis several years ago could begin streaming back to the market, too. (realtormag.realtor.org)