Question

Davis defaulted on his mortgage and the lender began foreclosure proceedings. At the foreclosure sale Davis's house was sold for $115,000 while the unpaid balance of the loan was $121,000. What can the lender do about the $6,000 difference?

a. Sue for specific performance
b. Sue for injunctive relief
c. Sue for monetary damages
d. Sue for a deficiency judgment

Answer 1

The lender can present a sue for deficiency judgement. The correct option to answer your question is "option a - Sue for a deficiency judgement"

Step-by-step explanation:

A sue for a deficiency judgment in real estate means an unsafe money judgment against a borrower, in this case, is Davis whom mortgage foreclosure sale did not cover the complete balance of the loan.