The Demise Of Deficiency Judgments In Residential Loans
First, on July 11, 2013, California Gov. Jerry Brown signed Senate Bill 426 into law. Senate Bill 426 expanded the anti-deficiency statutes to provide that "no deficiency judgment shall be owed or collected" in the context of a loan secured by residential property.
The new language replaces the old language, "no deficiency judgment shall lie," to clarify...
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