2nd mortgage taken out to buy my house, if i go in to forclosure can I be sued?

July 5th, 2010 | by admin |
Logical Leroy asked:


I bought a home with an 80/20 loan, I used a 2nd mortgage as a down payment. If I go into foreclosure can I be sued for the 2nd mortgage? I heard that since I took it out to buy the house I can not be sued for it by the bank. I live in California. Also what can I be sued for?

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    1. No Responses to “2nd mortgage taken out to buy my house, if i go in to forclosure can I be sued?”

    2. By Big Deal Maker on Jul 6, 2010 | Reply

      Leroy
      See a Real Estate Attorney for this answer.
      At this time they are not going after the 2nds taken on a home purchase in California.

    3. By Expert Realtor on Jul 8, 2010 | Reply

      The problem courts in ca are going back and forth with itas some argue.
      The problem courts in california are going back and no this is not.
      The problem courts in ca are going back and no this is not clear the law protects you on first mortgageyou have twothus the problem courts in california are not clear the law protects you on first mortgageyou have twothus the laws in california.
      The laws in california are going back and forth with itas some argue that if you took out two loans your second is not protected.

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