Extension of Nonrecourse Protection Vetoed by Governor

Published on October 5, 2010 by

On Friday, October 1st, Governor Schwarzenegger vetoed SB 1178, which would have extended anti-deficiency protection under Section 580(b) to include refinance loans which replaced loans which were qualified purchase money.

The bill would have prevented lenders from obtaining deficiency judgments against homeowners living in their homes and who default on ...

Published in Litigation
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