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What is a deficiency judgment tied to property and how do you benefit when trying to rent an apartment?

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Wiki User
2011-09-13 13:16:00

I will answer the 1st part of the question "What is a deficiency

judgment tied to property".A deficiency balance is whatever is left

of a loan when the security has been sold--such as a repoed car is

sold for less than the loan amount plus repo costs, storage, title

& taxes, the balance remaining on the loan after applying what

the car sold for is a deficit balance.A judgment was filed by the

lending company to recover whatever money is still due them anda

judgment automatically ties to real estate property if the borrower

owns a home.


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