Share this site with del.icio.us Share this site with furl Share this site with stumbleupon Share this site with google Add this site to Yahoo Bookmarks Click here to add us to your favorites Subscribe to our Feed





deficiency balance

Definition

Amount left over when the money realized from the sale of a foreclosed property is insufficient to pay off the full loan amount. This is one of the reasons banks usually insist on the borrower's personal guaranty so that they can go after his or her home or other property to make up the shortfall.


Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z