California  |  Real Estate Law

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10/01/08, 6:56 pm

Legal Question

Junior lien

We have a house we are trying to do a short sale on. The house is in a trust. The first has approved the short sale but the jr lien (heloc) says they are considering it a settlement and not a shortsale and wants 50%. If they force the house to auction do they get zero or do they have recourse? The purchase was a primary residence and I believe the heloc was originated as the second.


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