A deficiency judgment will amount to the difference between the borrower's outstanding debt and lender's asking price at the foreclosure sale.

Name: A deficiency judgment will amount to the difference between the borrower's outstanding debt and lender's asking price at the foreclosure sale.
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Question

Quizplus · Accepted Answer

A deficiency judgment is the difference between the borrower's outstanding debt and the actual sale price at the foreclosure sale, not the lender's asking price.

A Deficiency Judgment Will Amount to the Difference Between the Borrower's