CHAPTER 9.07. Deficiency

• Jurisdiction: United States

9.07. Deficiency

A mortgage lender has a right under common law to pursue a claim for a judgment on the deficiency between the amount owed and the amount received through foreclosure, provided the loan documents do not limit or restrict such right and subject to the defenses available to the obligor.⁵⁶ Delaware does not have a "one-action" rule as is found in other jurisdictions.⁵⁷

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Notes:

^[56] Note that under the Delaware U.C.C., a secured party might not have a right to pursue a deficiency if the...