Short Sales and Deficiency Judgments Under the New Rules in California

Short Sales and Deficiency Judgments Under the New Rules in California

On July 11, 2011, the governor signed a new law that prohibits second and third mortgage holders from pursuing deficiency judgments after they have agreed to a short sale.  This amends California Code of Civil Procedure Section 580e which prohibited the same practice by holders of first mortgages. Deficiency Judgments If a lender forecloses on … Continue reading Short Sales and Deficiency Judgments Under the New Rules in California