deficiency judgment
noun [ C ]
US (also deficiency judgement) ukus LAW
a judgment in a court of law that says that someone who has borrowed money must pay back what is still owed, after the property that was the security for the loan has been sold and was worth less than the amount that was borrowed:
Being sued for a deficiency judgment after foreclosure seems to be one of the greatest worries of homeowners in danger of losing their homes.