Legal Question in Real Estate Law in California

I have two houses my husband lost most of the income and one is going in foreclosure. Will I lose the other one that is paid in full ? How can I save it?


Asked on 8/31/09, 4:47 pm

1 Answer from Attorneys
Terry A. Nelson Nelson & Lawless

The paid for house is an asset. Any assets could be taken to pay a judgment against you or your husband. Unless the other house loan was a 'purchase money' loan, a deficiency judgment is possible against you. Get an attorney to advise you on the actual facts and documents. You could/should file a homestead on the paid house, if possible. You could negotiate something with the foreclosing lender, depending on what the actual facts and debts are. Don't ignore the problem.

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Answered on 8/31/09, 7:55 pm


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