Posted by John Merchant on October 15, 2009 at 14:08:26:
Don’t know just what you’re asking here but legality of Defic. Js is matter of state law and here in my state of WA, on residential, OO loan, bank can either foreclose OR sue for a $$$ J, but cannot do both.
To check CA law, ask Google for “Deficiency Judgment CA” and you’ll find lots of info online.
Specifically for California. If there is a deficiency, does the bank get to say yes or no that they will or will not issue a notice, or is it up to each state’s rules?