Foreclosure in Los Angeles>Question Details

Snow White, Home Buyer in Los Angeles County, CA

My investment property in Arizona is under foreclosure, Can they go after my primary residence in California?

Asked by Snow White, Los Angeles County, CA Thu Jun 11, 2009

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Snow White,
This looks like it could be a big mess for you and so I would definitely speak to an AZ real estate attorney. I believe AZ can opt into a judicial foreclosure and even if they don't come after you for a deficiency they will most definitely 1099 for the deficiency amount. You should talk to an AZ Realtor about a short sale and see if they can decrease the deficiency amount and you might have to sign an unsecured loan for the difference. Obviously it's a mess but speak to the proper professionals, live on a tight budget, and start to negotiate w/ the lenders.

Good luck,

Mario Villagran, MBA, Realtor
(818) 416-7511
1 vote Thank Flag Link Thu Jun 11, 2009
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