Chances of being issued a Dificiency Judgment ? U.S. Bank ??? NEED HELP

[needhelpfast]

I live in another state & my house is in Denver. My home was auctioned off yesterday and was purchased back by my 1st lender. My 2nd (HELOC) was w/ U.S. Bank for $250K. All the cash was used to remodel the home. I tried a short-sale for months with 2 offers but it all fell-through. My question is since Colorado is a Judicial state, my 2nd lender, U.S. Bank will either do 1 of the following: A) Issue me a 1099c or B) Issue me a Deficiency Judgment.
IS THERE ANYONE OUT THERE WHO HAS RECENTLY WORKED WITH U.S BANK & KNOWS WHAT THEIR POSSIBLE COURSE OF ACTION WOULD BE ?
My 2nd is a large figure = $250K and was entirely wiped out at yesterdays auction. I wanted to know that since $250K is such a large #...... is there a high probability that U.S. Bank will try to issue me a Deficiency Judgment and not mind having to pay all the legal fees for processing it?
I AM IN DIRE STRAIGHTS HERE. Is there anyone out there that can give me some sound advice as to what they might do?
Thanks needhelpfast

[Moe Bedard]

HI needhelpfast,


Have you spoken to a foreclosure attorney in Colorado that is skilled in debt collection and deficiency judgements to see what exactly you are up against.........I am sure that they would have experienced dealing with US Bank before and may be able to shed some light as to what you are facing.........

and you may also want to go take a look in the Deed in Lieu of Foreclosure section of the forum to see if there are any members in a similar situation..........