California Anti Deficiency Statutes Explained
- 2 hours ago
- 1 min read
Special Episode 3, Short 3
In California, anti deficiency statutes protect homeowners by limiting a mortgage company’s ability to sue for the remaining loan balance after a foreclosure sale.
When a property is sold for less than what is owed, the lender usually cannot pursue the borrower for the difference, known as the deficiency, if certain conditions are met. These protections generally apply when the home is owner occupied and the loan is purchase money tied to the property.
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