FAQ - DEFICIENCY JUDGMENTS - FORECLOSURE IN CALIFORNIA
DEFICIENCY
JUDGMENTS:
QUESTION: What is a “deficiency judgment”?
ANSWER: It is a legal judgment against the borrower for any shortfall in a judicial sale of the property to meet the total remaining debt plus taxable interest, fees and costs. To the extent the judicial foreclosure auction yields less than the judgment, a deficiency judgment could be available for judicial sales of the property, whether under a mortgage or deed of trust.