Meaning deficiency judgment
What does deficiency judgment mean? Here you find 12 meanings of the word deficiency judgment. You can also add a definition of deficiency judgment yourself
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deficiency judgmentn. a judgment for an amount not covered by the value of security ...
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deficiency judgmentA deficiency judgment is a legal document a judge signs demanding payment from a person who has defaulted on a mortgage and had the house foreclosed on, and the value of the house is less than the loan. The deficiency judgment will be for the difference between the market value and what was owed. Creditors use deficiency judgments as the authority [..]
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deficiency judgmentDelivery and Acceptance Delivery and acceptance occurs when the transfer of a title by deed is given by the grantor to the grantee.
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deficiency judgmentA judgment for the amount a homeowner owes the lender after a house or other asset is foreclosed upon and sold by the creditor for less than the actual debt (mortgage or car loan, for example) that is [..]
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deficiency judgmentJudgment issued against a borrower when the sale of foreclosed property does not bring in enough to pay the balance owed on the mortgage.
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deficiency judgmentsee judgment
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deficiency judgmentImposition of personal liability on a borrower for the unpaid balance of mortgage debt after a foreclosure has failed to yield the full amount of the debt.
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deficiency judgmentA deficiency judgment is typically in an amount equal to the difference between the funds received from a court sale of property and the balance remaining on a debt. Deficiency judgments are commonly [..]
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deficiency judgmentCommonly, the amount for which the borrower is personally liable on a note and mortgage if the foreclosure sale does not bring enough to cover the amount owed. Actually, the judgment is for the total amount of the obligation and not for the deficiency. Any recoveries from a foreclosure sale are deducted from the judgment.
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deficiency judgmentn. a judgment for an amount not covered by the value of security put up for a loan or installment payments. The right to a deficiency judgment is often written into a lease or installment contract on [..]
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deficiency judgmentn. a judgment for an amount not covered by the value of security put up for a loan or installment payments. In most states the party owed money can only get a deficiency judgment if he/she chooses to [..]
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deficiency judgmenta personal judgment in a foreclosure action for whatever amount remains owing after the foreclosure sale of an encumbered property.
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