What is a deficiency judgment?

In Loans - Mortgages - Asked by Admin - 13 months ago

A deficiency judgment is a claim against a debtor is the sale of a foreclosed property does not cover the cost of the mortgage, interest, legal fees and any other costs.

Answered by Admin - 13 months ago

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If you are purchasing a home you will probably need a Mortgage. Mortgages are typically for home purchases and can be for new loans or refinances. Typically people refinance a home to take equity out of their homes or secure a lower interest rate. Interest rates affect mortgages. If you have mortgage questions such as "what is a deficiency judgment?" or need help or answers Zuuply.com can help.

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What is a deficiency judgment?

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