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What happens if the sale proceeds form the mortgaged property is not sufficient to satisfy the debt?

April 26, 2017debt form happens mortgaged proceeds Property sale satisfy sufficient

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What happens if the sale proceeds form the mortgaged property is not sufficient to satisfy the debt?

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If the net income from the sale of the mortgaged property is not enough to satisfy the debt a personal decree will be passed against the mortgagor and he will be held personally liable to satisfy the balance amount.