Question

If the proceeds from the sale of a foreclosed property are less than the amount required to satisfy the outstanding mortgage loan debt and legal expenses, the grantor may be responsible for what?

Answer 1

Deficiency judgment.

Step-by-step explanation:

A deficiency judgment is basically a ruling made by a court against a debtor in default on a secured loan, indicating that the sale of a property to pay back the loan did not cover the debt in full.