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16 May, 17:09

If the proceeds from the sale of a foreclosed property are less than the amount required to satisfy the outstanding mortgage loan debt and legal expenses, the grantor may be responsible for what?

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  1. 16 May, 19:21
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    Deficiency judgment.

    Explanation:

    A deficiency judgment is basically a ruling made by a court against a debtor in default on a secured loan, indicating that the sale of a property to pay back the loan did not cover the debt in full.
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