A deficiency judgment permits a secured lender to recover other property or income from a defaulting debtor if the collateral is insufficient to repay the unpaid loan.

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A deficiency judgment allows a lender to seek further compensation from a borrower if the proceeds from the sale of the collateral are not sufficient to pay off the entire loan amount. This can include going after the borrower's other assets or income.

A Deficiency Judgment Permits a Secured Lender to Recover Other