A deficiency judgment is a court judgment that a mortgage lender gets against a homeowner after a foreclosure. Many states prohibit deficiency judgments, but Virginia, Maryland and the District of Columbia all allow them. Different states impose different limits on when a lender can pursue a deficiency judgment. But the basic premise is the same. […]
The law changes rapidly, differs from jurisdiction to jurisdiction, and is subject to varying interpretations by different courts and administrative bodies.
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