Casavant

Conrad H. Casavant (appellant) appeals from a deficiency judgment in favor of Security Pacific National Bank (the bank) on a floating home purchase money loan. Citing Code of Civil Procedure section 580b (hereinafter section 580b) and Health and Safety Code section 18038.7 (hereinafter section 18038.7), appellant argues that the bank’s sole recourse is against its collateral, We hold that a lender who makes a purchase money loan to the buyer of a floating home may obtain a deficiency judgment under section 18038.7 and therefore affirm.

Appellant obtained a $65,000 loan from the bank to finance his purchase of a floating home. The loan was secured by the floating home and an assignment of appellant’s rights as lessee of the berth where it was moored. After appellant defaulted on the loan, the bank repossessed and sold the floating home for $24,000. Judgment was entered herein for the unpaid balance of the loan.

Section 18038.7 provides that, “No deficiency judgment shall lie in any event, after the sale of any manufactured home, mobilehome, commercial coach, truck camper, or floating home subject to registration pursuant to this part, for failure of the purchaser to…