Legal Question in Real Estate Law in California

You need to review this question with an attorney in your area. I know you indicate that money is tight, but an hour or two of an experienced attorney's time can save you from making a large mistake. You may be able to walk away from the property without financial liability in a foreclosure, but someone needs to actually review the documents from the purchase and escrow to verify that. Further, with a recent change in the law, you may be able to pursue a short-sale and not have any personal financial liability. It is dependent upon a lot of facts and other information, so it is not possible for anyone to opine on this forum what direction will be best for you. Trust me - making the right decision is well worth the nominal cost of a couple hours time from an experienced attorney.

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