Legal Question in Real Estate Law in California

I am seeking loan modification on my home. I also co-own a family home with my siblings which I just acquired upon the passing of my mother (quitclaim). Can a loan mod application in any way impact the second property and its co-owners? Or does owning a second home assist in the application? My primary home is in California and my second home is in Connecticut.


Asked on 11/02/15, 10:04 am

1 Answer from Attorneys
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Seems unlikely; the new lender will know about your additional asset, either from your financial statement or from a records search or both, but will not have recourse to it due to the antideficiency provision of California Code of Civil Procedure section 580d.

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Answered on 11/02/15, 11:05 am


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