Legal Question in Real Estate Law in California

hello, my question is if you own 2 homes and you foreclose on your primary residence can the bank come after the second home and any savings as a result.


Asked on 8/04/09, 6:10 pm

1 Answer from Attorneys
Terry A. Nelson Nelson & Lawless

Any judgment against you can be enforced by collection against any and all assets. If the primary's mortgage was a 'purchase money', and not a refi, then they can't sue you for deficiency unless they can show fraud on your loan application. That limit doesn't apply to any refi or 2nd lenders.

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Answered on 8/04/09, 6:24 pm


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