Watchamacallit...

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There is a debt that the seller would incur if there is a short sale and this debt is not dealt with during the sale. It amounts to the difference between what the sale was and how much the bank was originally asking for. What is that charge called?

Comments(2)

  • pickledpunk13th July, 2004

    I believe that's referred to as a deficiency judgment.

  • Leatherneck15th July, 2004

    Bingo!! Thanks!

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