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Old 07-18-2008, 10:17 PM
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Join Date: Jul 2008
Location: CALIFORNIA
Posts: 1

Two properties

What is the name of your state (only U.S. law)? California
My husband and I were legally separated for a few years during which time he purchased a second home(in Perris, CA) in his own name (my home is in both names in Riverside CA). Now we have reconciled and are stuck with a $2100 mortgage for the Perris home we cannot pay. He will move to my house soon and we are worried our Riverside home will be affected if the Perris home is foreclosed. Can the bank sue for equity we have in our Riverside home?
  #2  
Old 07-19-2008, 10:05 AM
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Join Date: Feb 2007
Posts: 8,231
Since you are in California and this was an acquisition mortgage on a personal residence (at the time), the loan is going to be non-recourse (which means the only thing they can do is foreclose, they can't go after other assets).
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