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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Owner liable after trustee sale Posted by BTI on May 14, 2009 at 9:55 PM In Reply to: Re: Owner liable after trustee sale posted by Kim on May 06, 2009 at 9:41 AM Kim Kristine is right, sounds like you have received a notice of default which starts the foreclosure process for a non-judicial foreclosure. If the lender pursues this avenue there will not be a deficiency judgement because California has the one action rule. They can take you to court, or they can do a trustee sale. They can't do both. It seems early so maybe you should contact the lender about a loan modification, or a short sale. You gave no details so the posters here have nothing to work with. BTI Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Kim : Kristine is right, sounds like you have received a notice of default which starts the foreclosure process for a non-judicial foreclosure. If the lender pursues this avenue there will not be a deficiency judgement because California has the one action rule. They can take you to court, or they can do a trustee sale. They can't do both. : It seems early so maybe you should contact the lender about a loan modification, or a short sale. You gave no details so the posters here have nothing to work with. : BTI [ 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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