Legal Question in Real Estate Law in California

Subordinate Financing for Purchase

What would be consequences of foreclosure on second? Purchase money only, not a refi.


Asked on 2/23/09, 11:14 pm

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

Re: Subordinate Financing for Purchase

If the property was bought for, and actually was owner-occupied after purchase, the risk is minimal. Mainly related to the possibility of loan-application fraud, "waste" by deliberate trashing or non-payment of taxes, etc., also the usual damage to credit rating.

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Answered on 2/24/09, 12:20 am


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