Legal Question in Credit and Debt Law in California

Bankruptcy is one option and compromising the debt is another. Contact me directly.

I assume that the $105,000 is a second mortgage on the property that was foreclosed? If that is the case, then they probably have the right to collect that money from you. You need to buy an hour of an attorneys time in your area to review whether or not the lender has the right to pursue you for a deficiency post-foreclosure. If they do, you will have to figure out a way to resolve the debt with them, or consider bankruptcy. If the lender does not have the legal right to pursue you for the money, then it would be worth hiring an attorney to defend you and hopefully make this go away.

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