When 2nd is wiped out at foreclosure sale

[George P.]

When 2nd lien position mortgages are wiped out at the first mortgage foreclosure, do the banks (note holders) have a right to file a deficiency judgment agaisnt borrower in order to try and recover their loss (at least partially) ?

If yes, do they normally do it or rather charge off the amount?

Thanks for the input!!

:cool: