Re: Deficiency Judgement

Posted by dr on January 30, 2009 at 07:07:49:

In Reply to: Re: Deficiency Judgement posted by fp on January 29, 2009 at 05:24:34:

However if the second choose not to foreclose but just sue on the note instead


Sorry, but in CA a 2nd purchase money loan can only take what they get in foreclosure. In a recourse loan they can sue after foreclosure. They still have to wait for foreclosure by the first or them. Read the terms on the loan it is actually in there all about what they can do. I didnt mis read anything, and so far you have been wrong on everything.

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