Marianne's duplex sold at a foreclosure auction for $280,000. At the time of foreclosure, she had...

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Marianne's duplex sold at a foreclosure auction for $280,000. At the time of foreclosure, she had not made any payments to the bank for 11 months ($2,400 each). The outstanding balance of her mortgage was $394,000. What is the amount of the deficiency? Marianne's duplex sold at a foreclosure auction for $280,000. At the time of foreclosure, she had not made any payments to the bank for 11 months ($2,400 each). The outstanding balance of her mortgage was $394,000. What is the amount of the deficiency?

Answer rating: 100% (QA)

To calculate the deficiency we need to determine the difference between the out... View the full answer