Foreclosure in San Diego>Question Details

Curious92109, Home Seller in San Diego, CA

Is an FHA purchase loan that has not been refinanced a recourse loan in California?

Asked by Curious92109, San Diego, CA Tue May 11, 2010

Does the FHA/HUD deficiency judgment rule supersede CA law?

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Answers

2
You really need to speak to an attorney on this. Theres so many different things in your docs as Jay stated but also on how the money was handled.
I suggest not even taking my answer as meat, or anyone else's on here for that matter.

Good luck!

Nick
Web Reference: http://www.NIckRuiz.com
0 votes Thank Flag Link Wed May 12, 2010
My guess is "no" but you must read your note (loan documents) to make sure. California is a Non-Recourse State. So except for Lines of Credit and other consumer debt, a lender's recourse is limited to repossession of the real estate.
0 votes Thank Flag Link Tue May 11, 2010
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