Asked by Song McDonald, Temecula, CA • Mon Jun 13, 2011
We bought a home as our primary residence, subsequently bought and moved into another home. We turned the first house into a rental and then refinanced that house. Of course, we're undewater on the first house. We're trying to sell the house but want to know what our risk is if we walk away. We also have another home that we bought as a primary residence but are seriously underwater on this house as well. We have not refinanced this 3rd house. Is this 3rd house still a no-recourse loan. I can't find phrasing on any of the 3 notes/deeds that describes the type of loan
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