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deficiency. There are some important catches to this little-known rule. Foremost, the protection applies only to original mortgages used to buy homes. It doesn't apply to refinanced mortgages, which were an alien adjustable california mortgage rate during the Depression. It also depends on how the lender forecloses. Typically, lenders foreclose by essentially filing paperwork adjustable california mortgage rate the county recorder and conducting sales weeks later -- evoking images of foreclosure sales conducted on the steps of the county courthouse. If lenders choose this route -- and the vast majority do -- they cannot pursue the unpaid portion of the mortgage, regardless adjustable california mortgage rate whether it's the original loan or a refinanced loan. Lenders may charge various fees when giving a mortgage to a mortgagor. These include entry fees, exit fees, administration fees and lenders mortgage insurance. There are also settlement adjustable california mortgage rate (closing costs) the settlement company will charge. In addition, if a third party handles the loan, it may charge other fees