If the proceeds from the sale of a foreclosed property are less than the amount required to satisfy the outstanding mortgage loa

Question

Anestetic [448]

3 years ago

10

If the proceeds from the sale of a foreclosed property are less than the amount required to satisfy the outstanding mortgage loa

n debt and legal expenses, the grantor may be responsible for what?

Social Studies

1 answer:

mars1129 [50] · Answer 1 · 2022-05-23T22:40:00+03:00

mars1129 [50]3 years ago

3 0

Answer:

Deficiency judgment.

Explanation:

A deficiency judgment is basically a ruling made by a court against a debtor in default on a secured loan, indicating that the sale of a property to pay back the loan did not cover the debt in full.