Deficiency Judgment definition

Deficiency Judgment means a judgment or decree for any deficiency due on a secured indebtedness;
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Deficiency Judgment means a court judgment imposing personal liability on the Borrower for some or all of the unpaid amount remaining under the terms of a Loan when the proceeds of a foreclosure sale of the Property subject to the mortgage securing the Loan were insufficient to fully satisfy the outstanding debt.
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Deficiency Judgment means a court judgment imposing personal liability on the Borrower for the unpaid amount remaining under the terms of a Covered Loan when the proceeds of a foreclosure sale of the Property securing the Covered Loan were insufficient to fully satisfy the outstanding debt.
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Examples of Deficiency Judgment in a sentence

  • Potential Deficiency Judgment Flag Flag indicating loan is referred for deficiency collections.

  • Prepare an order approving reports of sale and distribution and for a Deficiency Judgment where applicable.

  • Finally, the other key feature of the institutional set up is the extent to which mortgage lenders can access other financial assets to repay any equity not covered by the sale of a house under repossession by obtaining a so called Deficiency Judgment or mortgage lender Recourse (see Ghent and Kudlyak, 2009; Li and Oswald, 2017, for instance).

  • In connection with the determination regarding pursuit of a Deficiency Judgment, each of the Insured and the Company must provide the other with all information it may have concerning the assets of the Borrower, possible defenses, and other information material to the decision.

  • If the Beneficiary, or the Servicer acting on behalf of the Beneficiary, elects to pursue a Deficiency Judgment, and we elect not to participate, we will not be subrogated to any of the Beneficiary’s rights of recovery against the Borrower or any other Person relating to the Loan or the Property with respect to which we have paid an Insurance Benefit.

  • The circuit court applied Hawai#i law and eventually entered the Deficiency Judgment.

  • Esteban, 129 Hawai#i at 160, 296 P.3d at 1068 (emphasis added).Indymac satisfied the first element by presenting copies of the Foreclosure Judgment, the Judgment Confirming Sale, the Deficiency Judgment, and our summary disposition order in Khaleghi I.

  • He will be meeting with the writing team soon and will finalize the document.

  • The Company shall take such actions as are reasonably necessary or appropriate in order to preserve and protect and allow the owner thereof to assert any Deficiency Judgment Claim and shall not take any action which would impair the validity or amount of, or the ability of the owner thereof to assert, any Deficiency Judgment Claim.

  • Confirm the actual date of the foreclosure sale by furnishing a copy of the legal Notice of Sale or other notification of the actual foreclosure sale date to the Office of Loan Guarantee on or before the date of publication, posting, or other standard legal notice, inserting at the top of the notice the following data: Deficiency Judgment Case, the Section 184 Case Number, and the Mortgagor's Name.


More Definitions of Deficiency Judgment

Deficiency Judgment means a monetary judgment entered by a Court against a Borrower for any remaining balance owing on a Mortgage after the sale of the foreclosed property. The monetary judgment amount typically consists of the remaining principal balance owed on a loan, accrued interest from the date of judgment, reasonable collection costs and costs of sale, and attorney fees, less the amount the lender sold the property for at a foreclosure sale.
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Deficiency Judgment means a personal judgment that the Pueblo Court may issue against a debtor for the amount of the debt unsatisfied by the sale or transfer of the foreclosed property. The Court may issue a deficiency judgment after an evidentiary hearing where the security is inadequate to satisfy the mortgage debt.
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Deficiency Judgment. If permitted by applicable law, Lender may obtain a judgment for any deficiency remaining in the Indebtedness due to Lender after application of all amounts received from the exercise of the rights provided in this section. Tenancy at Sufferance. If Grantor remains in possession of the Property after the Property is sold as provided above or Lender otherwise becomes entitled to possession of the Property upon default of Grantor, Grantor shall become a tenant at sufferance of Lender or the purchaser of the Property and shall, at Lender's option, either (a) pay a reasonable rental for the use of the Property, or (b) vacate the Property immediately upon the demand of Lender. This paragraph is subject to any rights of Grantor, under Iowa law, to remain in possession of the Property during a redemption period.
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Related to Deficiency Judgment

  • Alternate Judgment means a form of final judgment that may be entered by the Court herein but in a form other than the form of Judgment provided for in this Stipulation.

  • Alternative Judgment means a form of final judgment that may be entered by the Court but in a form other than the form of Judgment provided for in this Stipulation and where none of the Parties hereto elects to terminate this Settlement by reason of such variance.

  • Final Judgment means the Final Judgment and Order to be entered by the Court approving the Agreement after the Final Approval Hearing.

  • Consent Judgment means a state-specific consent judgment in a form to be agreed upon by the Settling States, Participating Subdivisions, and Xxxxxxx prior to the Initial Participation Date that, among other things, (1) approves this Agreement and (2) provides for the release set forth in Section IV, including the dismissal with prejudice of any Released Claims that the Settling State has brought against Released Entities.

  • Deficiency means a defect, flaw, anomaly, failure, omission, interruption of service, or other problem of any nature whatsoever with respect to a Deliverable, including, without limitation, any failure of a Deliverable to conform to or meet an applicable specification. Deficiency also includes the lack of something essential or necessary for completeness or proper functioning of a Deliverable.

  • Reasonable medical judgment means a medical judgment that would be made by a reasonably prudent physician, knowledgeable about the case and the treatment possibilities with respect to the medical conditions involved.

  • Adjudicative proceeding means the procedure to be followed in contested cases, as set forth in RSA 541-A:31 through RSA 541-A:36.

  • Order and Final Judgment means the order and final judgment of the Court approving the Settlement Agreement, as described in Section II(E)(7) below.

  • Deficiency Claim means any portion of a Claim (a) to the extent the value of the holder’s interest in Assets securing such Claim is less than the amount of such Claim or (b) to the extent the amount of a Claim is subject to setoff is less than the amount of the Claim, each as determined by § 506(a) of the Bankruptcy Code.

  • Final Order and Judgment means the final judgment and order of dismissal with prejudice to be entered in the Lawsuit in connection with the approval of the Settlement after the Final Approval Hearing.

  • Medical malpractice judgment means any final order of any court entering judgment against a

  • Current Proceeding means any proceeding conducted under any provisions of this subsection that

  • Deficiency Claim Amount has the meaning set forth in Section 5.5(a).

  • Deficiency Claim Date means, with respect to any Distribution Date, the fourth Business Day immediately preceding such Distribution Date.

  • Pending Claim has the meaning set forth in Section 9.6 hereof.

  • Pending Claims shall have the meaning set forth in Section 7.1(e).

  • Professional Judgement shall be defined as judgement that is informed by professional knowledge of curriculum expectations, context, evidence of learning, methods of instruction and assessment, and the criteria and standards that indicate success in student learning. In professional practice, judgement involves a purposeful and systematic thinking process that evolves in terms of accuracy and insight with ongoing reflection and self-correction.

  • Final Approval Order and Judgment means an order and judgment that the Court enters after the Final Approval Hearing, which finally approves the Settlement Agreement, certifies the Settlement Class, dismisses the Action with prejudice, and otherwise satisfies the settlement-related provisions of Federal Rule of Civil Procedure 23, and is consistent with all material provisions of this Agreement, substantially in the form annexed hereto as Exhibit 5.

  • Litigation means any lawsuit, action, arbitration, administrative or other proceeding, criminal prosecution or governmental investigation or inquiry.

  • Pending Litigation means a proceeding in a court of law whose activity is in progress but not yet completed.

  • Legal Action means and includes any claim, counterclaim, demand, action, suit, counterclaim, arbitration, inquiry, proceeding or investigation before any

  • Pendency of the procurement process means the time period commencing with the public notice of the request for proposals and ending with the award of the contract or the cancellation of the request for proposals.

  • Military judge means an official of general and special courts-martial detailed in accordance with section 28-3.1-210.

  • Lawsuit means any lawsuit, arbitration or other dispute resolution filed by either party herein pertaining to any of this Warrant, the Facility Agreement and the Registration Rights Agreement.

  • Administrative proceeding means a non-judicial process that is adjudicatory in nature in order to make a determination of fault or liability (e.g., Securities and Exchange Commission Administrative Proceedings, Civilian Board of Contract Appeals Proceedings, and Armed Services Board of Contract Appeals Proceedings). This includes administrative proceedings at the Federal and State level but only in connection with performance of a Federal contract or grant. It does not include agency actions such as contract audits, site visits, corrective plans, or inspection of deliverables.

  • The judge means the judge or the substitute judge of the juvenile and domestic relations district