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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: 10K a day who wrote (91481)10/6/2007 11:39:44 AM
From: Elroy Jetson of 306849
 
California, like many states, already has an "anti-deficiency" statute which was enacted during the Great Depression.

But this law applies only to the loan used by the owner to initially purchase the home.

If the owner has since refinanced, or the token home owner has received a home equity loan, this protection does not apply.

learnaboutlaw.com

California should force lenders to accept whatever a house can be sold at. (Sellers should not have to come up with money at closure)
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