Planning a Foreclosure in CA, avoiding a Deficency Judgement
Posted by DomCA on October 16, 2007 at 13:05:04:
I have been unemployed since January and have had my home on the market since with no activity. Since January I have been using my HELOC for funds to live on in hopes that the home would sell and both mortgages would be paid in full. I have recently moved to another state with better opportunity. However I have reached the point where I owe nearly what the home is worth. I owe 484k on the first and 95k on the HELOC, neither of which were purchase loans. How likely is that the 2nd lien holder will pursure a judical foreclosure or come after me for a deficency judgement? Can they go after any other assets that I might have like my savings or ira? Or attach a lien to the property I have purchased in TX? If so how do I protect the savings that I have left?
Follow Ups:
- Planning for a Foreclosure - Other questions - Tom 13:45:54 02/15/08
(0)
- Re: Planning a Foreclosure in CA, avoiding a Deficency Judgement (url) - E. 01:26:46 10/26/07
(0)
- Re: Planning a Foreclosure in CA, avoiding a Deficency Judgement - OC Andy 15:46:17 10/16/07
(3)
- Re: Planning a Foreclosure in CA, avoiding a Deficency Judgement - DomCA 10:12:37 10/17/07
(2)
- Re: Planning a Foreclosure in CA, avoiding a Deficency Judgement - Jugband 11:26:07 11/03/07
(0)
