Deficiency Judgments: State by State Guide | How To Avoid a Judgment

Tim and Julie Harris of Harris Real Estate University are all over the Internet with their articles on short sales and foreclosures. This article about Deficiency Judgments: State by State Guide How To Avoid a Judgment explains that in North Carolina deficiency judgments are not allowed in non-judicial procedures. Furthermore, in judicial cases the deficiency may be limited to fair market value. Note the non-committal word "may" as in -- may be limited.

So, what's the deal? In all seriousness, each bank has their own foreclosure process, each lender has their own legal staff, and will seek what remedy is available under the law. For the time being, we're all left guessing.