Legal Question in Real Estate Law in California

forclousure

I live in california. If I walk away from my mortgage with Countrywide will they persue me for the value of the mortage


Asked on 1/25/09, 6:55 pm

2 Answers from Attorneys
Robert F. Cohen Law Office of Robert F. Cohen

Re: forclousure

Most likely not. But you might want to try to negotiate a lower payment. I understand that several banks are beginning to do that.

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Answered on 1/25/09, 7:24 pm
Terry A. Nelson Nelson & Lawless

Re: forclousure

Unless it was a purchase money loan to initially buy the house, you are responsible for any deficiency. Yes, they'll pursue you.

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Answered on 1/26/09, 2:24 pm


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