Well, maybe. The following Contra Costa Times article reports on a bill that has passed the Senate and will be taken up by The House in August that would stop lenders on foreclosed properties from going after the homeowners for the deficiency associated with the foreclosure. The bill would protect those homeowners that only refinanced and did not take cash out of the home. The current law protects homeowners who had never refinanced from deficiency judgement. It is unclear how this will affect short sales of Danville and San Ramon
real estate.
Proposal targets refinancing loophole in foreclosures law – ContraCostaTimes.com.
