Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
Most foreclosures in CA are nonjudicial. If the foreclosure was nonjudicial, a deficiency judgment cannot be entered against you. The lender then would take the property in full satisfaction of the debt.
Here is how it works. In CA deficiency judgments can not be entered for foreclosures by private sale or on purchase money mortgages. Deficiency judgments can be entered on judicial sales of non-purchase money mortgage.
However even in judicial sales regarding non purchase money mortgages the lender will typically not pursue a deficiency judgment as it entitles the defaulting borrower a right to redeem his property if he can pay the necessary charges and cure his arrears.
In summary, deficiency judgments are not usually entered in CA, but in some narrow instances they can be.