Legal Question in Real Estate Law in California
Foreclosure
I have a mortgaged home in California and one in Arizona. If I allow the home in California to go into foreclosure, will that affect the home in Arizona and if so, how?
Asked on 2/23/09, 7:23 am
1 Answer from Attorneys
Donald Scher
Donald T. Scher & Associates, P.C.
Re: Foreclosure
No, each property is separately mortgaged. Which one is your principal residence would affect your homestead rights, and of course, your attempt to re-finance or modify either loan will be affected by a foreclosure.
Answered on 2/23/09, 11:10 am
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