| qUESTION ON HOME EQUITY LOAN DELENQUENCY JUDGEMENT
DOES THIS SECTION OF THE TEXAS CODE APPLY TO A HOME EQUITY LOAN DEFAULTED UPON WHEN THE FIRST MORTGAGE WAS FORCLOSED ON. IS THERE A 2 YEAR STATUTE OF LIMITATIONS FOR FILING A SUIT TO COLLECT ON THE SECOND NOTE
Texas Property Code section 51.003 (“Section 51.003”), Texas’ deficiency judgment statute, provides in pertinent part:
(a) If the price at which real property is sold at a foreclosure sale under Section 51.002 [non-judicial foreclosure] is less than the balance of the indebtedness secured by the real property, resulting in a deficiency, any action brought to recover the deficiency must be brought within two years of the foreclosure sale and is governed by this section. | 
Linear Mode
