SB 458 : Amendment of Section 580e Antideficiency Judgement

What Kind of Properties Qualify for Protection under the amendment to C.C.P 580e under SB 458:
This deficiency judgment prohibition applies to a broad category of 1 to 4 residential units with exceptions noted below.  It applies to:
•Cash-Out Refinanced loans
•Non-Owner Occupied Homes
•Second Homes
•Vacation Homes
Are There Exceptions to C.C.P. section 580e? (SB 458):
Section 580e does not apply in the following circumstances:

• Where debtor is a corporation, limited  liability company, limited partnership, or political subdivision of the state.   C.C.P.  580e( d)(1).
• Where debtor engages in fraud in the sale or waste of the property  C.C.P. 580e( c).
• A lien secured by a bond as specified; a public utility lien; and additional rules apply if a note is cross-collateralized by more than one property.    C.C.P. 580e(d)(2).
• For other exceptions that may apply to your specific factual scenario, speak to a lawyer.