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 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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Examples of Deficiency Judgment in a sentence

  • 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.

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

  • 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 Flag indicating loan is referred for deficiency collections.

  • To the extent permitted by law, Grantor waives all rights and claims with respect to Lender's ability to obtain a Deficiency Judgment under Section 51.003 of the Texas Property Code.

  • 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.

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

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


More Definitions of Deficiency Judgment

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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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 Judgment Entered by the Court upon Granting Final Approval of the Settlement.

  • 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.

  • Adjudicatory proceeding means a contested case, a proceeding that may culminate in a contested case, a petition for declaratory order, a petition for expedited resolution of a negotiability dispute, or any other proceeding which may require the board or its designee to issue a decision, order, or ruling.

  • 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 the order in which the Court certifies the Settlement Class, grants final approval of this Settlement Agreement, authorizes the entry of a final judgment, and dismisses the Action with prejudice.

  • Litigation means any action, suit or proceeding before any court, mediator, arbitrator or Governmental Authority.

  • 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.

  • Regulatory Proceeding means a request for information, civil investigative demand, or civil proceeding commenced by service of a complaint or similar proceeding brought by or on behalf of the Federal Trade Commission, Federal Communications Commission, or any federal, state, local or foreign governmental entity in such entity’s regulatory or official capacity in connection with such proceeding.

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