Legal Question in Bankruptcy in California

It depends upon whether the 1st Trust Deed and Equity Lines were "purchase money" loans, meaning they were used as the source of funds for the original purchase. If they were, the lender cannot seek a deficiency judgment. If the 1st Trust Deed was a purchase money loan and the second was not, after foreclosure by the 1st the 1st would have no further recourse; however, the Equity Line would become a "sold-out junior lien holder" and could sue to enforce the promissory note (contract) you had with them.