Foreclosure in Bay Point>Question Details

John, Home Owner in Bay Point, CA

Can Lender come after second junior loan and home equity loan if my house forclosed?

Asked by John, Bay Point, CA Thu Nov 4, 2010

I have 3 loans( first and second junior mortgage) own by calFFA and Equity loan own by Patelco Credit union.If my house will be foreclosed will I still be responsible for the 2nd and Equity loan ?Thanks

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John,

IN these situations agents generally refer clients to attorneys for the best information and how your loans reconcile with the law. Much depends on if the loans were taken out as purchase money or renfinances. Without knowing more details the only thing I can generally share is that the home equity line is in all probability a recourse situation.
Web Reference: http://bob2sell.com
0 votes Thank Flag Link Thu Nov 4, 2010
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