New Law 10/7/10: California Short Sellers Exempt from Deficiency Judgements (Purchase Money Only)

Posted by Ben Nicolas on Friday, October 8th, 2010 at 2:26pm.

- junior lien holders can still pursue judgements
- doesn't apply if homeowner refinanced mortgage
- eliminates lenders option to allow short sale but maintain the right to pursue deficiency judgement by forcing seller to agree (in writing as a condition of approving the short sale) to allow the lender to pursue the deficiency judgement in the future 

Leave a Comment

Format example:
Format example:

Sign up for email updates