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www.besthomesinlajolla.com

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www.besthomesinlajolla.com answered:
Anjolie

If the home was your primary residence in California there are no deficiency judgments. Your home was the collateral for your loans. I read before that you did not put any money down and purchase your condo with a first and a second. You might want to call an attorney but I believe the 2nd Lender does not have any right to collect from you. As for the reporting to the credit agencies, yes, they will keep on reporting every month and the foreclosure will stay in your record, as Jeff and Ginny indicated before for 7 years. Unfortunately, that's the price you pay in a foreclosure. - Sat Jun 6 2009, 21:02

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