Deficiency Judgment

Definition of "Deficiency judgment"

Judicial finding that the debtor owes an amount exceeding the value of the collateral put up for the defaulted loan.

Search Real Estate Glossary

Related Real Estate Glossary terms

Fellow Servant Rule

Formerly an employer's defense under which an injured employee had to bring a cause for action again ...

Tight Market

Market in which the spreads between the asking and offer price of real estate are small. The propert ...

Potential Gross Income

Expected revenue to be earned from a sale or the rendering of services. An example is a potential bu ...

Average Tax Rate

See effective tax rate. ...

Intergovernmental Pools

Tool of risk management used for risk financing by local governments. The technique is for many loca ...

Aesthetic Value

Value added to property because of its intrinsic artistic, beautiful, and favored location. ...

Related Real Estate FAQ

What Is A Debt-to-income Ratio?

A debt-to-income ratio is the percentage of a persons monthly earnings used to pay off all debt obli ...

What Do I Need To Know About Pet Insurance?

If you own a pet, i\'m sure you\'ve been in a situation where the vet bills have been much higher th ...

What Is An Overall Debt Ratio?

An overall debt ratio is the percentage of your overall debt (housing payments plus any other long-t ...

What Are Prepayment Penalties?

A penalty fee charged for paying off a mortgage early, thus allowing banks to still make money off o ...

What Is A Convertible ARM?

A convertible ARM is an adjustable- rate mortgage (ARM) that can be converted into a fixed rate mort ...

What Is A Mortgagee?

A morgagee is the lender. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

Tax Breaks for the First Time Home Buyer What is the Best Time of Year to Buy a Home? What Costs Do Buyers and Sellers Pay On Big Day When Escrow Closes? Foreclosure - The Pros and Cons of Buying 5 U.S. Cities with the Best Public Transportation

FAQ

What is a debt-to-income ratio? What do I need to know about Pet Insurance? What do I need to know about Term Life Insurance? What is a loan origination fee? I dont know the zip code of my areas. How do I find an agent that is right for me in my area.