Finance
In Wyoming, a 'deficiency judgment' after a foreclosure sale means:
AThe property has a deficiency in marketable title
BThe lender sues the borrower for the difference between the foreclosure sale price and the outstanding loan balance✓ Correct
CThe government seizes the property for back taxes
DThe title company must pay the difference between the sale price and appraised value
Explanation
If a Wyoming property sells at foreclosure for less than the outstanding mortgage balance, the lender may seek a deficiency judgment against the borrower for the remaining amount owed. Wyoming law addresses whether deficiency judgments are permitted under different types of foreclosure.
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