California Judicial/Non Judicial concern


Posted by Mike on January 25, 2009 at 02:39:26:Ok heres the quick FULL story. Bought in 07. lost about 100K in value, having crime problems in neighborhood. We are going to just walk away from home since we can no longer make payments anyway. Ive read about differences between judicial and non judicial, but im confused. We have a first and second loan on the home, but never refied. The sale of the home may almost satisfy the first loan, but likely not, and the second lender is nowhere close. Can they opt to go judicial and come after all of my assets? my cars, my retirements, etc? And if they did Could I file bankruptcy? Sorry to ramble, just nervous.


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