A $4 million deficiency judgment tacked onto an $8.4 million property value judgment in a case stemming from a sheriff’s sale of condominiums must be sent back to the trial court for recalculation, the state Superior Court has ruled.
The three-judge panel’s decision in Liberty Philadelphia REO v. EFL Partners Vis in response to defendant EFL Partners’ claims that the interest rate the Philadelphia court used to calculate the about $4 million deficiency judgment against EFL was “extremely excessive.”
