The California Legislature amended its major real estate antideficiency laws—Code of Civil Procedure §§580b and 580d—effective January 1, 2014. The amendments have been a subject of concern, but their objective, and likely effect, is limited.
CCP §580b, as currently written, says that “No deficiency judgment shall lie in any event for the following:” and then describes certain types of transactions including a deed of trust given to a lender to secure a loan made to finance the purchase of a dwelling for not more than four families which was in fact used to pay all or part of the purchase price of that dwelling, occupied entirely or in part by the purchaser.
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