Definitions for "Deficiency Judgment"
A judgment against a borrower, endorser, or guarantor for the balance of the debt issued when the security for a loan is insufficient to satisfy the debt.
A court order requiring payment of the balance owed on a loan if the proceeds from a sale in foreclosure are insufficient to pay off the loan.
the discrepancy between the unpaid balance of a home loan debt and the market value or the selling price of the specific real estate property on which the home loan has been made.Related term: DEFICIENCY PAYMENT.
Keywords:  quit, claim
Quit Claim Deed