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 ?
ISD Solutions employs over 100 staff and trades across the UK and internationally and has recently reorganised its leadership in anticipation of significant growth over coming years.
"This is one of the largest projects we've undertaken and we chose to partner with ISD having previously worked together during the construction of our Bristol depot in 2014.
Pasadena ISD gave cash grants and Walmart gift cards to families based on their needs.
Sheldon ISD is providing students with opportunities to catch up on work through after-school and Saturday academic-enrichment programs.
Surgical management of ISD was intermittently discussed in the literature, but logically, treatment was aimed at correcting the kyphoscoliosis or other bone and joint manifestations of the disorder.
In developing economies such as Indonesia's there is growing appreciation that moving quickly towards a strong services sector is an effective way to achieve social and economic development, said Ian Birks, chief executive officer of the Australian Services Roundtable, which also supports ISD through ITC.
That includes founders Paul Wright and Val Kaye, who own a combined 36% of ISD.
a) The ISD programme aims at strengthening its international dimension by mobilizing research expertise from several countries in Europe, North America, South America, and Asia.
The construct of user participation is initially introduced to depict users' behavioural engagement as well as to measure users' personal participation in ISD (Barki and Hartwick, 1989; Kappelman, 1995).
New Voice Security Services from Nortel (NYSE:NT) (TSX:NT), a communications solutions provider, has been selected by the Spring Independent School District (ISD), located 20 miles north of downtown Houston, USA, to protect the private information of 36,500 students, faculty and staff by safeguarding its voice network from fraudulent use and hackers.
programs by requiring all affected facilities to consider ISD, implement