“So are you saying that a regular no cash out refi (not a HELOC) of an original loan is also a non – recourse loan???”
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I don’t know of a specific ruling in CA that states “a no-cash-out refi of a purchase money loan is a non-recourse loan.” I also have not seen a specific ruling that suggests a no-cash-out refi is automatically a recourse loan. The cases I have seen are not precisely on point but do seem to suggest that a determining factor is cash-out or no-cash-out.

The legislative intent of the governing statutory section – CCP 580b – supports a public policy against deficiency judgments. The section refers to the financing of the “purchase price” – which can be construed to include a no-cash-out refi. That’s what a no-cash-out refi is, after all – financing the purchase price.