Deficiency Judgment
The order confirming the sale establishes the deficiency amount and will include a personal judgment against those parties remaining personally liable on the note. The Court must have personal jurisdiction over the parties to enter such a judgment. A memorandum of judgment is signed by the judge or clerk and recorded in the county. Any collection remedies may be pursued in post-judgment proceedings. These remedies include garnishment and execution and levy on the property of the debtors.
Fisher and Shapiro, LLC | Attorneys and Counselors At Law
quote...
Judicial judgment must take deep account of the day before yesterday in order that yesterday may not paralyze today.
- Felix Frankfurter