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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] With one known rare exception. Posted by JK (the other JK) on May 15, 2010 at 11:35 AM In Reply to: A little thin on details posted by Rick Harmon on May 15, 2010 at 9:04 AM : In CA, the answer is no. : The non-judicial foreclosure of collateral would normally be the lender's only remedy. : Check out your State's statutes if you are in a 'recourse' State. If so, all bets are off If you committed fraud in obtaining the loan (i.e. overstated your income), the lender can pursue the borrower for a Deficiency Judgement. Though I personally only know one case of a lender doing this, I am aware of a lender that is suing over one hundred borrowers for exactly that. Follow Ups: HEY JK (the other JK) come out where ever you are? BIG RED MACHINE 3:51 PM, 05/15/10 (3) Re: HEY JK (the other JK) come out where ever you are? JK (the other JK) 4:30 PM, 05/15/10 (2) typo: can NOT afford to hire an attorney... (nt) JK (the other JK) 4:31 PM, 05/15/10 (1) Re: typo: can NOT afford to hire an attorney... (nt) sd 7:22 AM, 05/17/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : In CA, the answer is no. : : The non-judicial foreclosure of collateral would normally be the lender's only remedy. : : Check out your State's statutes if you are in a 'recourse' State. If so, all bets are off : If you committed fraud in obtaining the loan (i.e. overstated your income), the lender can pursue the borrower for a Deficiency Judgement. Though I personally only know one case of a lender doing this, I am aware of a lender that is suing over one hundred borrowers for exactly that. [ 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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