![]() |
| ||||||||||||
| |||||||||||||
| | |||||||||||||
| |||||||
| | |
![]() |
| | LinkBack | Thread Tools | Rate Thread | Display Modes |
|
#1
| |||
| |||
Under the Anit-Defiency Code of Civil procedure; Would my second mortgaged be protectWhat is the name of your state? CALIFORNIA, San Diego I purchased my Condo with 2 loans. All the money went to purchase the home. If I foreclose on my home will I owe a defiencey under the California Code Of Civil Procedure section 580. I was advised my second loan would not be protected under this law. I could still be liable that is. If this is true would letting the bank foreclose on my second loan first protect me from that? Or are both of my loans protected from a Defiency under this law if I get foreclosed, since they both were loans for me to buy my home with and it's my primary residence as well. Please help if at all possible.What is the name of your state? |
|
#2
| |||
| |||
| I am not sure I understand all your questions, but I will tell you that generally, when a first is foreclosed upon, the second gets wiped out. The civil procedure code you cite is just that ... procedural. It is not substantive law; procedure rules show the lawyers how to play the game, not the rules of the game. Anyway, stand by for a California lawyer to answer.
__________________ There are two rules for success: (1) Never tell everything you know. |
![]() |