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Old 06-24-2009, 09:07 PM
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Join Date: Jun 2009
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2nd TD Foreclosure Question


What is the name of your state (only U.S. law)? CA

I recently had a 2nd TD holder foreclose on an investment property that I owned with business plans to develop. i assume that he took over the first in one way or another to successfully foreclose and he is listed as the owner.
Neither the first nor the 2nd were purchase money.

But since he has now non-judicially foreclosed, does the one action rule still apply to this scenario? Has he closed off other avenues to come after me for the deficiency? I did not personally guarantee it because I was the personal borrower.

Except for possible tax ramifications, am I done with this property in terms of either the holder of the first or second coming after me?

thanks
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