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 ?
Diagnosis of mitochondrial trifunctional protein deficiency in a blood spot from the newborn screening card by tandem mass spectrometry and DNA analysis.
Weight loss surgery patients, individuals undergoing Hemodialysis and stages 2 through 4 Chronic Kidney disease and other conditions causing protein deficiency require increased protein intake daily.
Protein deficiency allows fluid to seep into body tissue, causing bloating of the stomach while the arms remain spindly.
This serious form of protein deficiency malnutrition is becoming increasingly prevalent in the elderly population in our country, especially in nursing home and hospitalized patients.
Erich became the 3,000th person to have a liver transplant at the Birmingham liver unit, four years after discovering he has a hereditary protein deficiency.
Pecking and cannibalism are commonly attributed to a protein deficiency.
For a child, protein deficiency can change the rest of his life or end it.
Biopool's chief executive officer, said: ``We believe that the greater specificity and ease of use of our new test kit will result in more-widespread testing for this protein deficiency, which will result in improved diagnosis and treatment.
In addition, fewer of the critical hearing cells died, compared with so-called wild type mice that did not have the protein deficiency.
To address protein deficiency and muscle loss in older Americans, Little Rock-based HealthSpan Solutions, LLC developed a new protein blend specially formulated for healthy aging.
She has methylmalonic acidemia which is a protein deficiency and was first diagnosed when she was eight months old.
Also, protein deficiency of cats produces signs such as dilated pupils and blindness.