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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Foreclosed - now 2nd has sent me to collections! Posted by CC in OC on April 21, 2008 at 7:39 AM In Reply to: Re: Foreclosed - now 2nd has sent me to collections! posted by Jinger on April 20, 2008 at 9:09 PM * So, if the second was wiped out and the second was 'recourse' (a loan NOT used to purchase the property such as a refi, and in some cases certain HELOC loans, even if taken out at purchase) then the 2nd might very well have the right to persue collection. * What are the circumstances under which a purchase money HELOC 2nd would be considered a recourse loan? Follow Ups: Re: Foreclosed - now 2nd has sent me to collections! Jinger 9:02 AM, 04/23/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : * So, if the second was wiped out and the second was 'recourse' (a loan NOT used to purchase the property such as a refi, and in some cases certain HELOC loans, even if taken out at purchase) then the 2nd might very well have the right to persue collection. * : What are the circumstances under which a purchase money HELOC 2nd would be considered a recourse loan? [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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