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.

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.

Examples of Deficiency Judgment in a sentence

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

• If the parties determine that the Deficiency Judgment shall be pursued for the account of both parties, the Company shall be subrogated pro rata to such rights of recovery and shall be responsible for a pro rata portion of the associated costs.

• If the parties determine that the Deficiency Judgment shall be pursued solely for the account of the Company, the Company shall be subrogated to all of the Insured's rights of recovery against the Borrower and any other Person relating to the Covered Loan or the Property with respect to which the Company has paid an Insurance Benefit and shall be responsible for all costs associated with pursuing such Deficiency Judgment.

• 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.

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

• 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.

• For the avoidance of doubt, notwithstanding anything to the contrary in this Agreement, the Initial Member does not convey, nor does the Company acquire, any right, title and interest the Initial Member, the Receiver or any predecessors-in-interest thereto may have with respect to any Deficiency Judgment Claim pursuant to the Agreement.

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

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

• For the avoidance of doubt, notwithstanding anything to the contrary in this Agreement, the Company and the Initial Member agree that the contribution and sale of the Loans pursuant to this Agreement will exclude the transfer to the Company of all right, title and interest the Initial Member, the Receiver or any predecessors-in­ interest thereto may have with respect to any Deficiency Judgment Claim.

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.

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.

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.