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Collections on defaulted 2nd mortgages

June 05, 2016 10:58PM
I have a colleague Ive known many years who has a number of defaulted California 2nd trust deeds
Fact is they were cash out 2nd mortgages on investment properties,,they turned into bad deals
I have been pursuing Judgment Enforcement for the last 6 months with moderate success
In a word ,Id like to help my friend collect on these 2nds that went South
Its my understanding I can pursue them as a collection and if that fails ,hire an attorney and create a deficiency judgment
At that point I can request an Assignment of Judgment,represent myself in court and collect on the debt
Is that accurate?
This is a "new breed of cat " for me so any help appreciated

Subject Author Views Posted

Collections on defaulted 2nd mortgages

journeyman 4055 June 05, 2016 10:58PM

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