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California Courts of Appeal

Jul. 25, 2013

State appeals court rules in favor of underwater homeowners

A state appellate court Tuesday interpreted a Depression-era law in favor of underwater homeowners trying to escape foreclosure.

By John Roemer
Daily Journal Staff Writer

A state appellate court Tuesday interpreted a Depression-era law in favor of underwater homeowners trying to escape foreclosure. A panel of the 4th District Court of Appeal in San Diego reversed a trial judge and ruled for the first time that a borrower who sells her home for less than the amount owing on her mortgage and gives the proceeds to the lender is protected by so-called anti-deficiency provisions in the Code of Civil Procedure...

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