Legal Question in Real Estate Law in California

If she is successfully sued for a deficiency judgment by a lender after a foreclosure, then they could use a money judgment to go after any of her assets they can find. If this is a 'purchaser money loan' without recourse, then they would not be able to sue. If it is anything else, they probably can sue.

It depends on the details of the loan on the condo. If the loan on the condo was made at the time it was purchased, and 100% of the loan went to buy the condo, the lender cannot do anything but foreclose on the condo and take whatever they can get. If the loan on the condo was ever refinanced, or if there was any cash-out compoent, however, then the next question is how the lender forecloses. If they do the standard trustee's sale foreclosure, they again are barred from taking any further action. In uncommon, but not unheard-of, circumstances, the lender takes the second option which is a foreclosure lawsuit. If the lender went that route, they would get an order for sale of the property, and a judgment for any deficiency. Then they would have to enforce the judgment the same as any other creditor against whatever money and assets they can find. As I said, however, that is uncommon. Because it is slow and expensive, lenders generally only do that if they are going to lose a lot of money on the foreclosure AND the borrower has substantial other assets.