DEFICIENCES

The ultimate nightmare for a property owner is that he or she will not only lose his or her property in foreclosure, but that the lender will pursue him or her further, to be re-paid the “deficiency” between the amount of the debt and the value of the property. California law sometimes permits a lender to pursue a deficiency, and sometimes does not. This very important, and quite technical, subject is set forth in this section.

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