Legal Question in Real Estate Law in California

Foreclosure

i own a house in Texas and California. I can't make the payments on both anymore and want to keep the Texas property. can I foreclose on the CA property without any ramifications on the Texas property?


Asked on 6/25/07, 2:33 pm

1 Answer from Attorneys
Benjamin Berger Berger-Harrison, A Professional Corporation

Re: Foreclosure

A foreclosure in CA will probably not impact your ownership of the home in Texas unless the lender on the Texas home is allowed (under the terms of the mortgage) to accelerate the note if you suffer a foreclosure. Check your documents and check with a Texas lawyer.

Also, a forecolsure will show on your credit. Sell it or try to get a lender-approved short sale. Avoid foreclosure if possible.

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Answered on 6/25/07, 2:41 pm


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