Deficiency Judgment: A personal judgment levied against the borrower when a foreclosure sale does not produce sufficient funds to pay the mortgage debt in full.

 

Related Words

Deficiency Judgment: A personal judgment levied against the borrower when a foreclosure sale does not produce sufficient funds to pay the mortgage debt in full.

Judgment: The formal decision of a court on the respective rights and claims of the parties to an action or suit. A judgement that has been entered and recorded with the county recorder usually become . . . View Full Definition

Human Immunodeficiency Virus (HIV): The retrovirus that attacks T-cells in the human immune system, destroying the bodys defenses and allowing the development of AIDS.

Judgment Decree: Specifiies the award made by the court in a civil case.

Judgment Lien: A general lien on the property of a judgment debtor, giving the holder of the judgment a right to levy the property to satisfy the debt.

Simian Immunodeficiency Virus (SIV): A virus that is found, in numerous strains, in primates.

Severe Combined Immunodeficiency (SCID): A genetic disorder in which affiicted individuals have no functional immune system and are prone to infections. Both the cell-mediated immune response and the antibody-mediated response are absent.

Loan Deficiency Payments: A commodity payment program authorized by the Food Security Act of 1985 that makes direct payments, equivalent to marketing loan gains, to wheat, feed grain, upland cotton, rice, or oilseed . . . View Full Definition

Deficiency Payments: Direct government payments made to farmers who participated in an annual commodity program for wheat, feed grains, rice, or cotton, prior to 1996. The crop-specific deficiency payment rate w . . . View Full Definition

Deficiency Letter: A non-cash expense that provides a source of free cash flow. Amount allocated during the period to cover tax liabilities that have not yet been paid.