Re: California Judicial/Non Judicial concern


Posted by dr on January 25, 2009 at 22:27:51:
In Reply to: Re: California Judicial/Non Judicial concern
Posted by Jim V on January 25, 2009 at 19:34:14:All purchase money loans are only satisfied by the sale of the home in CA. The only way the second would be left as unsecured debt, is if it is a Re-fi and even then only the part you took out as a cash out. the second will try to get you to pay but they can do nothing but take what they can get at foreclosure.

""That second, or the entity purchasing that second might very well try to collect even to the point of seeking a judgment.""

That may be true, but when you cite the code and send it to them, if they still file, they knowingly violate the law and are subject to ALL ramifications of such.
I had a creditor try to pull a scam on me and threaten to file. When I sent a registered letter with signature required, with the code in it, Everything stopped.


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