Legal Question in Credit and Debt Law in California

forclosure in california

I am losing My Home due to forclosure after they sell my Home can they garnish my bank acct or My Work wages to pay them


Asked on 11/08/07, 1:18 am

1 Answer from Attorneys
Robert Mccoy Law Office Of Robert McCoy

Re: forclosure in california

It depends. If you only have one loan on your house, then no. If you have a second on your house, then the bank not foreclosing, may go after you for a deficiency, unless the loan is "purchase money." A 2d loan can be "purchase money" if it was incurred at the time you purchased your house and you got no money out of the transaction. If you have refinanced, it is still possible that the 2d loan could be classified as "purchase money."

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Answered on 11/09/07, 6:45 pm


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