deficiency

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Deficiency

The amount by which a project's cash flow is not adequate to meet debt service.

Deficiency

1. The amount by which cash flow falls short of debt service. For example, if a company has $300,000 in current liabilities and only $250,000 in cash flow for a given year, its deficiency is $50,000.

2. In taxation, the amount by which one's tax liability exceeds what the individual person or organization reported. For example, if the IRS disallows certain deductions that the taxpayer applied, he/she will owe more in taxes than he/she reported on the return. Deficiency is the amount this taxpayer still owes to the IRS.

deficiency

1. The amount by which an individual's or an organization's tax liability as computed by the Internal Revenue Service exceeds the tax liability reported by the taxpayer.
2. The amount by which a firm's liabilities exceed assets.

deficiency

The amount due on a mortgage loan after adding all expenses of foreclosure and accrued interest to the principal balance of the loan and then deducting the sale price or lender-bid price for the property. The balance remaining, if any, may be collected by the lender by means of taking a deficiency judgment, unless prohibited by law or contract. Deficiency judgments may be collected just like any other judgment, through seizure of other assets or garnishment. There are two circumstances when a lender may not collect any deficiency:

1. In states with consumer protection statutes that outlaw deficiencies on first mortgages on a borrower's principal residence.

2. With mortgage loans designated as nonrecourse, meaning the lender and borrower agreed in advance that the property would stand for the debt and there would be no deficiency allowed in the event of foreclosure.

References in periodicals archive ?
The disease itself is characterized by a constellation of signs and symptoms that culminate in a diagnosis of acquired immune deficiency syndrome.
No relationship between drug use and AIDS incidence or immune deficiency progression was found.
Caring for acquired immune deficiency syndrome patients.
With Long watching like a father at a Lamaze delivery, Nunn proposed an amendment providing "that $20,000,000 of the funds appropriated in this paragraph may be made available in the Acquired Immune Deficiency Syndrome program element only for a large-scale Phase III clinical examination of the GP-160 [sic] vaccine.
Global Markets Direct's, 'Primary Immune Deficiency (PID) - Pipeline Review, H2 2012', provides an overview of the Primary Immune Deficiency (PID) therapeutic pipeline.
All the study participants suffered from spinal cord injuries, juvenile diabetes, or hypogamma-globulinemia, a genetic disease that causes an immune deficiency.
A significant proportion of AIDS cases, they note, are diagnosed based on these "non immune deficiency diseases.
Doctors already know that malnutrition is perhaps the most common cause of immune deficiency worldwide.
Real estate executive Bruce Mosler, vice chairman and regional president of The Galbreath Company, will be the 1996 recipient of the Jeffrey Modell Foundation (JMF) Humanitarian Award, the highest honor bestowed by the non-profit advocacy organization dedicated to improving the lives of the 500,000 Americans, mostly children, afflicted with primary immune deficiency.
This attack eventually leads to Acquired Immune Deficiency Syndrome (AIDS).

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