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Re: I called "the source" and got this reply...

November 16, 2011 12:02PM
Code of Civil Procecdure Section 580b is not new, and the owner occupied purchase money 1-4 unit borrower protection against sold out seconds was confirmed by the California Supreme Court over 50 years ago in Brown v. Jensen, 41 Cal. 2d 193 (1953).

A link to the decision can be found here:

[scholar.google.com]

IMHO, it does not matter whether the junior lien is HELOC or otherwise. If it is actually used to purchase the property and is secured by a trust deed, the only recourse for the junior purchase money lender is the security itself. Should be easy enough to establish in most cases with a HUD-1.
Subject Author Views Posted

80/20 in ca 580b nightmare won't end

Thamann2000 4377 November 13, 2011 01:16PM

Def. judgment geeks pls chime in

Kristine-CA 2943 November 13, 2011 02:52PM

Re: Def. judgment geeks pls chime in

Kingside 2963 November 13, 2011 05:16PM

Re: Def. judgment geeks pls chime in

Thamann2000 2912 November 13, 2011 05:59PM

Re: Def. judgment geeks pls chime in

Kristine-CA 2882 November 13, 2011 07:22PM

Ok, found it

Kristine-CA 2978 November 13, 2011 07:44PM

Re: 80/20 in ca 580b nightmare won't end

Rick Harmon 3049 November 13, 2011 02:55PM

Re: 80/20 in ca 580b nightmare won't end

Thamann2000 3020 November 13, 2011 03:03PM

Re: 80/20 in ca 580b nightmare won't end

BTI 3057 November 14, 2011 07:50PM

Re: 80/20 in ca 580b nightmare won't end

Kristine-CA 3025 November 14, 2011 09:43PM

I called "the source" and got this reply...

Rick Harmon 3109 November 16, 2011 09:52AM

Re: I called "the source" and got this reply...

Kingside 2996 November 16, 2011 12:02PM



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