Deficiency Judgment
A court order requiring payment of remaining debt after foreclosure
Full Definition
Why It Matters
Understanding deficiency judgment helps you make informed decisions about your mortgage. This knowledge can save you money and help you avoid common pitfalls in the homebuying process.
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Frequently Asked Questions
Deficiency Judgment refers to a court order requiring payment of remaining debt after foreclosure. This is an important concept in mortgage lending that affects how your loan works.
Understanding deficiency judgment can help you make better decisions about your mortgage. Contact NMHL for personalized guidance on how this applies to your situation.
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