Fwd: FW: California Senate Passes bill to extend
Posted: Tue Jun 15, 2010 3:06 pm
I don't see this as being that important, given that CCP 580d already provides anti-deficiency protections when a lender forecloses non-judicially, which is the case for virtually every first trust deed, whether the loan was purchase money or a refinance. Likewise, most second trust deeds made during the crazy days of 2005-2007 were home equity lines of credit or "cash out" refinances. I suppose there are some debtors who obtained 80-20 refinance loans of the original purchase money loan(s) with no cash-out, but I haven't encountered many.
Jim
James R. Selth
Weintraub & Selth, APC
12121 Wilshire Boulevard, Suite 1300
Los Angeles, California 90025
Telephone: (310) 207-1494
Facsimile: (310) 442-0660
E-Mail: jim@wsrlaw.net
NOTICE TO RECIPIENT: THIS E-MAIL IS MEANT FOR ONLY THE INTENDED RECIPIENT OF THE TRANSMISSION AND THIS COMMUNICATION IS INTENDED TO BE PRIVILEGED BY LAW. IF YOU RECEIVED THIS E-MAIL IN ERROR, ANY REVIEW, USE, DISSEMINATION, DISTRIBUTION, OR COPYING OF THIS E-MAIL IS STRICTLY PROHIBITED. PLEASE NOTIFY US IMMEDIATELY OF THE ERROR BY RETURN-E-MAIL AND PLEASE DELETE THIS MESSAGE FROM YOUR SYSTEM. THANK YOU IN ADVANCE FOR YOUR COOPERATION.
The post was migrated from Yahoo.