• The SBA foreclosed on my home. Can they come after me for a deficiency judgment?

    10 October 2014
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    The answer to this question depends on a variety of factors. In Texas, a borrower’s homestead may not be pledged as collateral for an SBA business loan and the lender will not seek to do so. However, in many other states this can and does occur. But, generally speaking, while there is no statute of limitations applicable to a foreclosure action by the government, the SBA cannot obtain a judgment to collect any deficiency remaining on the delinquent loan, post-foreclosure, if the six-year statute of limitations for suit on the loan has passed.

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