Nice rundown of foreclosure results in California. The question comes up all the time --- can banks in California go after the borrower for a deficiency judgment.
According to the attorney who wrote this article. (and he is right because of rule 580) Not on a purchase money loan.
California protects home owners from deficiency against the holders of the purchase money mortgage. (the first mortgage that was used to buy the house.) If you refinance you lose that protection.
to read more:
Mortgages, foreclosures and deficiency judgments
Florida has no such protections against deficiency judgments.