REAL ESTATE LAW: Most states, including Florida, allow for what are known as "deficiency judgments" after foreclosure. What this means is that the lender and sue the borrower for the difference between amount obtained by selling the foreclosed property and the remaining balance on the note. However, a minority of states only allow these judgments in certain circumstances. A number of these jurisdictions which have "non-judicial foreclosure" state that if the lender chooses non-judicial foreclosure, they are waiving their right to a deficiency judgment. Does it make more sense to allow fordeficiency judgments or are there ancillary consequences which occur with this process? In states which limit the ability to collect deficiency judgments, are their economic benefits or disadvantages and if so, what are they?