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Ken Koenen's Blog – July 2011 Archive (1)

New California Anti-Deficiency Law in Short Sales

Last week, on July 11, 2011, California governor Jerry Brown signed into law a new law to combat deficiency judgments by holders of non-purchase money junior mortgages (second or third mortgages) when the lender has accepted funds during a short sale transaction. This law protects homeowners who refinanced a loan after the original purchase loans. This was Senate Bill 458, and amends the language to the California Code of Civil Procedure §580e.

Previously, a junior mortgage holder of… Continue

Added by Ken Koenen on July 18, 2011 at 1:51pm — No Comments

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