Liable for a Deficiency Judgement?

Each state has it's own rules.

For the State of California, for Residential Property (1-4 Units), Owner Occupied here's a quick chart.

Lender Purchase Money Loan	Seller Financed Purchase Money Loan	Refinanced (Non Purchase Money Loan)
NO Deficiency Judgment if Senior or junior Lien Holder * see Civil Code 580b.	NO Deficiency Judgment if Senior or junior Lien Holder * see Civil Code 580b.	YES - Deficiency Judgment if judicial foreclosure NO Deficiency Judgment if Trustee Sale Foreclosure see Civil Code 580b

* If a senior Lienholder forecloses on the property, the wiped out junior loan lienholder who no longer has a secured note may NOT sue on this promissory note for those categories indicated on this chart.

There are other factors and conditions which may change the result (such as borrower fraud).

Always consult a legal professional.