See 580b(e): to the extent refi money is used to pay off prior PM loan,
antideficiency (anti-deficiency?) protection applies. To the extent refi
proceeds exceed payoff of PM loan (cash out proceeds) there is no
protection.
On Friday, August 2, 2013, Patrick T. Green wrote:
> **
>
>
> No, except I have some vague memory that there is a CA case that if the
> purchase money lender is the lender for the refi, then it is still purchase
> money. Maybe someone on the list will know the cite or know the negative.
> ****
>
> ** **
>
> If you have any questions or concerns, please contact me.****
>
> ** **
>
> Pat****
>
> ** **
>
> Patrick T. Green****
>
> Attorney at Law****
>
> Fitzgerald & Green****
>
> 1010 E. Union St. Ste. 206****
>
> Pasadena, CA 91106****
>
> Tel: 626-449-8433****
>
> Fax: 626-449-0565****
>
>
pat@fitzgreenlaw.com *
> ***
>
> ** **
>
> *From:*
cdcbaa@yahoogroups.com '
cdcbaa@yahoogroups.com');> [mailto:
cdcbaa@yahoogroups.com]
> *On Behalf Of *Kirk Brennan
> *Sent:* Friday, August 02, 2013 12:10 AM
> *To:* Cdcbaa Yahoo Listserv
> *Subject:* Re: [cdcbaa] New case on short sale and 580b****
>
> ** **
>
> ****
>
> That's an important decision. ****
>
> Query whether it applies to refinanced mortgages. Would a refinanced
> mortgage be considered "purchase money" ...****
>
> ** **
>
> On Wed, Jul 24, 2013 at 9:32 AM, Patrick T. Green
> wrote:****
>
> ****
>
> New Cal App case****
>
> ****
>
> *In this appeal we are asked to determine a question of first impression.
> Do the*****
>
> *anti-deficiency protections in Code of Civil Procedure section 580b
> apply to a borrower*****
>
> *after she, with the approval of her lender, sells her residence to a
> third party for a price*****
>
> *that is less than the outstanding balance owed the lender on the
> borrower's mortgage loan,*****
>
> *which was obtained to purchase the residence? We conclude that section
> 580b's*****
>
> *protections do apply in this situation.*****
>
> ****
>
>
http://www.metnews.com/sos.cgi?0713//D061720****
>
> ****
>
> ****
>
> If you have any questions or concerns, please contact me.****
>
> ****
>
> Pat****
>
> ****
>
> Patrick T. Green****
>
> Attorney at Law****
>
> Fitzgerald & Green****
>
> 1010 E. Union St. Ste. 206****
>
> Pasadena, CA 91106****
>
> Tel: 626-449-8433****
>
> Fax: 626-449-0565****
>
>
pat@fitzgreenlaw.com *
> ***
>
> ****
>
>
>
>
> -- ****
>
> Kirk Brennan****
>
>
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Clifford Bordeaux
Bordeaux Law, P.C.
790 E. Colorado Boulevard, 9th Floor
Pasadena, CA 91101
T: 626-405-2345 / F: 626-628-1820 E:
cliff@bordeauxlaw.com
See 580b(e): to the extent refi money is used to pay off prior PM loan, antideficiency (anti-deficiency?) protection applies. To the extent refi proceeds exceed payoff of PM loan (cash out proceeds) there is no protection.
On Friday, August 2, 2013, Patrick T. Green wrote:
No, except I have some vague memory that there is a CA case that if the purchase money lender is the lender for the refi, then it is still purchase money. Maybe someone on the list will know the cite or know the negative.
If you have any questions or concerns, please contact me.
Pat
The post was migrated from Yahoo.