If a foreclosed property has sold for less than the loan amount, the difference between the indebtedness and the sale price of the real estate at the foreclosure sale is called the
A) net price.
B) deficit.
C) net market value.
D) deficiency.

Question

Quizplus · Accepted Answer

The difference between the indebtedness and the sale price of the real estate at the foreclosure sale is called the deficiency.

If a Foreclosed Property Has Sold for Less Than the Loan