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Yes, Texas has a deficiency law that addresses the situation where a lender seeks to recover the difference between the amount owed on a loan and the proceeds from the sale of the collateral after foreclosure. In Texas, if a lender forecloses on a property and the sale does not cover the outstanding debt, they may pursue a deficiency judgment against the borrower, but this is typically limited to non-recourse loans. However, Texas law also provides certain protections for borrowers, particularly in cases involving homestead properties.
What else can I help you with?
Dose Texas have anti-deficiency law?
As of August 2014, Texas does have an anti deficiency law. Other states with the same law are Alabama, Arkansas, Delaware, and Illinois.
Under Texas law what can the creditor do to collect the deficiency?
In Texas, they take you to court on a judgment in order to collect. Statutes of limitations on debt collection in Texas is four years. Debtors cannot garnish any wages.
What was the british slave code called?
The Police Law and Deficiency Law
With a cross collateralized debt when the vehicle was surrendered can the creditor demand payment for deficiency?
In the state of Texas, yes the creditor can follow for the deficiency balance.
Does California anti-deficiency law apply to unimproved land?
Anti-deficiency laws generally apply to the primary residence.
When was Texas Law Review created?
Texas Law Review was created in 1922.
Is common law recognized in Texas?
Yes, common law is recognized in Texas.
Does the University of Texas have a Law School?
Yes, the University of Texas at Austin School of Law: http://www.utexas.edu/law/
Is common law marriage recognized in Texas?
No, common law marriage is not recognized in Texas.
Does Pennsylvania have an anti deficiency law?
No, you can have a judgment against you for a default.
How long does a couple have to live together in Texas to be considered in a common law marriage according to Texas law?
In Texas, a couple must live together for a continuous period of two years to be considered in a common law marriage according to Texas law.
Is there an anti-deficiency law in Illinois?
http://wiki.answers.com/Q/Is_there_an_anti-deficiency_law_in_illinois"
