Legal Question in Real Estate Law in California

If you don't have an express written agreement with the lender to accept the deed as full payment of the debt, yes, they can still sue you for the balance due, and get a judgment lien when they win. If there is no defense to the debt that is supported by some evidence, they probably can also get a pre-judgment lien, but they have to file the lawsuit to collect the balance and then ask a judge to order the prejudgment lien. It is not automatic.

Mr. McCormick's answer is right assuming that you are quitclaiming to the lender. That's probably what you are doing, but you didn't indentify the grantee.

I agree with Mr. McCormick. If you are doing a deed to the lender in lieu of foreclosure, then unless you have an express agreement otherwise, the lender could come after you for any deficiency. I suggest that you speak to an attorney familiar with foreclosure issues and California's anti-deficiency laws.