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Kristine-CA

November 13, 2011 07:44PM

Registered: 12 years ago
Posts: 82

CCP 580b protection will apply to all purchase money loans regardless of their priority. Therefore, it will apply to loans secured by a second priority or a third priority lien as long as the proceeds of the loans were used to finance the purchase of the real property which is encumbered.

Above from the calbankers assoc. So as long it's purchase money and primary residence, it's exempt from a def. judgment. Thanks for the informative thread.

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Subject	Author	Views	Posted
80/20 in ca 580b nightmare won't end	Thamann2000	4052	November 13, 2011 01:16PM
Def. judgment geeks pls chime in	Kristine-CA	2668	November 13, 2011 02:52PM
Re: Def. judgment geeks pls chime in	Kingside	2780	November 13, 2011 05:16PM
Re: Def. judgment geeks pls chime in	Thamann2000	2647	November 13, 2011 05:59PM
Re: Def. judgment geeks pls chime in	Kristine-CA	2673	November 13, 2011 07:22PM
Ok, found it	Kristine-CA	2758	November 13, 2011 07:44PM
Re: 80/20 in ca 580b nightmare won't end	Rick Harmon	2745	November 13, 2011 02:55PM
Re: 80/20 in ca 580b nightmare won't end	Thamann2000	2684	November 13, 2011 03:03PM
Re: 80/20 in ca 580b nightmare won't end	BTI	2861	November 14, 2011 07:50PM
Re: 80/20 in ca 580b nightmare won't end	Kristine-CA	2739	November 14, 2011 09:43PM
I called "the source" and got this reply...	Rick Harmon	2767	November 16, 2011 09:52AM
Re: I called "the source" and got this reply...	Kingside	2676	November 16, 2011 12:02PM

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