Deficiency—in real estate it is a shortage in the amount of proceeds a lender receives AFTER they have disposed of an acquired property. When a lender sells a home they have acquired, whether by foreclosure or deed-in-lieu or insurance claim, the deficiency is the amount still unpaid after the sale. This represents the amount of loss to the lender(s) or other entities, which may have a claim against the property.
The amount not covered by the offer to purchase. This represents the amount of loss to the lender(s) or other entities that may have a claim against the property.
The amount not covered by the offer to purchase. This represents the amount of loss to the lender(s) or other entities that may have a claim against the property.
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You can find more helpful definitions of WORDS like these in Your Real Estate Advisor which can be purchased at www.DovePublishingHouse.com.
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