foreclosure homes in california

Foreclosure investment on a house in California?

I bought a house investment of more than two years before the outbreak of the bubble, but the neg am loan is to eat the principal. This is in California that is my primary residence. The lender does not change the conditions ready to be more reasonable in the 12 months it will be more than its market value. If we decide to let it go to the lender, or as an execution lock or sale, the lender does not act against my main house, which is NOT part of the note or deed. We have asked the lender to work with us just down, and seems to prefer being in the business of leasing instead of mortgage activity. Thus, California can go after your principal residence is not connected to the investment house in any way. In addition, there are different lenders.

Gregory had the best response so far, but I must add as follows: For the California regulations to prevent the failure of a non-recourse loan / S is a loan / s guaranteed by and for the purchase of a residential property occupied by their owner (1-4 units), which stated that his establishment does not apply at home is an investment, not a property. Therefore, the lender can go after their other assets I do not think it will go after your main residence. Disclosure: I am not a lawyer and you should get legal advice from a lawyer. My advice is if your home equity is losing its two ends, the market is depreciating and neg am loan, the sale and reduce your losses. If have a foreclosure on your record will be very difficult for you to refinance your primary residence if necessary. If you sell your home in short sale you better have a lot of foreclosure in credit, believe me!

foreclosure homes in california