Finance
In California, a lender who forecloses on a purchase money deed of trust on a 1-4 unit residential property occupied by the borrower is generally:
AEntitled to pursue a deficiency judgment for the full loan balance
BBarred from obtaining a deficiency judgment✓ Correct
CRequired to obtain a court order before any deficiency
DEntitled to deficiency if the property sold at a loss
Explanation
California's anti-deficiency statutes (Code of Civil Procedure §580b) bar lenders from obtaining a deficiency judgment after foreclosing on a purchase money loan secured by owner-occupied 1-4 unit residential property.
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