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In california, on a short sale does the bank forgive the difference

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Beltztam Joined: 20 Mar 2009 Posts: 2 1.79 Dollars($)	Posted: Tue Mar 24, 2009 5:53 pm    Post subject: In california, on a short sale does the bank forgive the dif Like 0 Dislike 0 I owe 295,000 I can sell for 160,000. It's a second property, does that matter.
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Tue Mar 24, 2009 8:58 pm    Post subject: Like 0 Dislike 0 Hi Beltztam, As far as I know, in California, deficiency judgments are not allowed in case of purchase money loans. But as it is a second property, I think the lender will be able to sue you for the deficiency amount. Thanks

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