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riverside619 · Joined: 17 Nov 2009 Posts: 1 1.31 Dollars($)

bought a house on 2006, lost job went into forclousure in 2008. house was sold in auction in 2009. the 20 loan company is coming after me.
question: i know in ca we have a law that states that mortage company cannot come after you for monies owed. but my second mortgage is trying to get money for the entire 2nd. can they do that in ca?

jenkin7 · Posted: Tue Nov 17, 2009 11:19 pm Post subject:

Hi riverside,

There are anti-deficiency laws in the state of California. They protect the borrowers against deficiency judgments. But as far as I know, most of these laws apply to purchase mortgages. You can claim anti-deficiency protection against your primary mortgage holder. Second mortgages are not considered as primary mortgages. Thus, I doubt if you can claim protection against your second lender. However, you can consult a foreclosure attorney and check if there are anti-deficiency laws that apply to second mortgages in your state.

Guest

thanks for the info. i have started to look for an attorney. to look into this matter i know they can come after me if i took monies out of the equity of the house but this was to purchase a house so it was a regular 20% loan.
thanks again for responding back!

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ca question 80/20