7.4 Deficiency Judgments

A deficiency judgment is “a personal judgment against the debtor for any deficiency remaining after the application of the net proceeds of [the foreclosure] sale to the [mortgage].”1  If the property was sold in executory process without appraisal, no deficiency judgment can be had.2  Untimely appraisals will also deprive the creditor of the right to a deficiency judgment. A debtor cannot waive the statutory prohibition against deficiency judgments when the real estate was sold without appraisal.3

• 1Citizens Sav. & Loan Ass’n v. Kinchen, 622 So. 2d 662, 664 (La. 1993).
• 2La. R.S. 13:4106; Williams v. Perkins‑Seigne Partner, 633 So. 2d 1247, 1249 (La. 1994), on reh’g, 93-2131 (La. 1/27/95), 649 So. 2d 367.
• 3La. R.S. 13:4107.