This latest article from CNN Money makes it very clear that the lenders are not letting people off the hook when the house goes to foreclosure OR short sales. Homeowners who have lost their homes since the current mortgage crisis began are now finding themselves the target of collections companies and lenders pursuing deficiencies [...]
Continue reading about Lenders Pursuing Deficiencies Against Homeowners Even Well After Foreclosure
This is one of the most frequent and common questions we hear.
The answer is a qualified “Maybe”.
1. If the funds were borrowed by someone intending to occupy the property (owner occupant) to purchase the property [Purchase Money Mortgage] in the State of California, the answer is “No”. No for first lien holders, no for 2nd’s [...]
Continue reading about Can I be Sued For the Deficiency After a Short Sale or Foreclosure?
