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Re: Deficiency Judgment in California?

Posted by Al Smiley on February 25, 2007 at 19:47:58:

In Reply to: Deficiency Judgment in California? posted by Brandon on February 22, 2007 at 09:26:50:

Ytou said mortgages, more than one. If you purchased your home with a 1st and 2nd then it is know as purchase money trust deeds.
In the State of California there is no deficiency judgements allowed in this scenario
Secondly if you have deeds of trusts then thre would be a trustees sale with reference to any foreclosure
and you would have no rights for redemption
If the senior lienholder files a Notice of default first and proceeds with the foreclosure process then the junior lien lien holder would be wiped out
Foor more information on foreclosure in the State of California go to the state's website where you get any information you truely need

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