A further exception to consider is that 580 d does not bar recourse seconds from pursing deficiencies against homeowners.
We have read that Indy Mac says it is going to seek deficiencies against California homeowners.
Because properties values have slid about 20% many of those 100% financing 80 20 loans will put the second into a sold out junior status. If you do not have purchase money protection you might want to review all our pre-foreclosure solutions including a short sale.
Sold out junior situations are one of the situations in which a San Diego homeowner could really benefit from a short sale