Re: Need more info
Posted by BigMike on October 25, 2006 at 00:43:54:
In Reply to: Re: Need more info
Posted by Cheryl on October 23, 2006 at 18:07:29:California is a one-action state for purchase money loans. Means if they do a non-judicial foreclosure, then they can not do a deficiency judgement. This route is almost always the case.
more info, check www.foreclosureforum.com (not my site; just a frequent visitor).
: : : OK, you purchased your brothers house. Did you get a new mortgage or buy it subject to the existing financing? What state is the property in? And lastly, based on your email address you work with attorneys - why are you posting this question to a bulletin board?
: I purchased my brothers home to keep him from foreclosure, providing he make the payments. He made 2, and now it is going to Trustee's sale Nov.7. Since only 2 payments were made and the market is down, will I have to pay the rest of the loan if they don't get that much for the house?
Brand new loans (2) California, and I work for a BK/Debt Negotiation/Personal Injury Law Firm. Not able to provide me any information regarding Foreclosure/Trustees Sale, etc.
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