A mortgagee can obtain a judgment against a mortgagor to cover the difference between the amount of a mortgage debt and the proceeds of a foreclosure sale.

Question

Quizplus · Accepted Answer

This is true. If a foreclosure sale does not generate enough money to cover the outstanding mortgage debt, the mortgagee can obtain a deficiency judgment against the mortgagor to cover the difference.

A Mortgagee Can Obtain a Judgment Against a Mortgagor to Cover