When a clause in a mortgage allows the lender to proceed against a borrower's other assets if the foreclosure sale does not satisfy the debt, the result is called a
A) statutory redemption.
B) deficiency judgment.
C) equity of redemption.
D) foreclosure redemption.

Question

Quizplus · Accepted Answer

A deficiency judgment allows the lender to proceed against a borrower's other assets if the foreclosure sale does not satisfy the debt.

When a Clause in a Mortgage Allows the Lender to Proceed