California Supreme Court
Jan. 23, 2016
Anti-deficiency protections apply to short sales: Supreme Court
Lenders may not pursue borrowers for the outstanding amount on a mortgage loan after a short sale, the high court ruled Thursday.
Daily Journal Staff Writer
More than 200,000 underwater borrowers in California who sold their homes at a loss to avoid foreclosure before 2011 may be entitled to reimbursement for any post-sale payments they made on the mortgage, according to a unanimous state Supreme Court ruling published Thursday.
The ruling clarified that once a consumer delivers the liquidated value of the house to the ...
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