Legal Question in Real Estate Law in California

forclosure

my house is in forclosure in california. i have an 80/20 intrest only loan. the bank for the 20 sent me a letter saying that they are sueing me for the money. am i protected by california state law. what should i do about the lettter


Asked on 3/24/08, 10:41 pm

1 Answer from Attorneys
Mitchell Roth MW Roth, Professional Law Corporation

Re: forclosure

If it was a purchase money loan, you are protected. If a refinance, then if the holder of the first forecloses this will wipe out the security interest of the second, and the second can and may sue you for the balance.

You may want to check out a company I represent, United First, Inc. Their website is www.U1stForeclosureRelief.com If you have an interest call me and I'll introduce you to the higher ups.

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Answered on 3/25/08, 12:18 am


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