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Heloc used as purchase money on property, recourse?

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

Is it true that if a Heloc was used as purchase money on a property, there will be no recourse if the property goes into foreclosure?

This was an 80/20 purchase with the 20% being the heloc I am mentioning.
 


Any one have any experience with this?

Basically the Heloc was done at the time of purchase (80/20) 100% financing
80% on the 1st at Wells Fargo, 20% is the Heloc from Chase.

Will the purchaser be responsible for the Heloc amount if it was all used to purchase the house and the house goes into foreclosure?



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

Is it true that if a Heloc was used as purchase money on a property, there will be no recourse if the property goes into foreclosure?

This was an 80/20 purchase with the 20% being the heloc I am mentioning.
 

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