Finance
In Utah, a deficiency judgment after foreclosure means:
AThe lender waives any remaining balance owed after the sale
BThe borrower owes the lender the difference between the loan balance and the foreclosure sale proceeds✓ Correct
CThe borrower must vacate the property within 30 days
DThe lender must pay the borrower for any improvements made
Explanation
A deficiency judgment holds the borrower personally liable for the unpaid loan balance remaining after foreclosure sale proceeds are applied. In Utah, deficiency judgments may be pursued under certain circumstances.
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