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The botXXXXX XXXXXne of all this is that if you obtained a mortgage to purchase a home in California, you are not be responsible for any amount remaining unpaid after a foreclosure sale. As a result, other assets are not at risk. If your debt is not a purchase money mortgage, in reality, because of the right to redeem, most lenders in California waive the deficiency. If the deficiency is waived, so also is the right to redeem.
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Yes sir...that is correct. :)
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