California | Real Estate Law
2/05/12, 11:40 am
Legal Question
I live in CA. I purchased an owner occupied property with an 80/15. The 15 was a purchase money HELOC for $63K. 6 months later I refinanced the HELOC for a better rate with another bank. I never took cash out. I paid the 2nd down from $63K to $24K. The 1st foreclosed on the property a few months ago. Since I refinanced the 2nd is it recourse and they can come after me?
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