Loans, Debt & Credit - View Single Post - Recourse v. Non-Recourse States

CalOwner · 07-06-2009, 10:42 PM

I'm curious how the one action statute works in California. Is it similar to NY in that a lender can only seek to foreclose on the property Or sue to collect the debt? Or is it that a lender is only permitted one lawsuit to collect mortgage debt?

07-06-2009, 10:42 PM	#6 (permalink)
CalOwner Member Join Date: Jun 2009 Posts: 7 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Recourse v. Non-Recourse States I'm curious how the one action statute works in California. Is it similar to NY in that a lender can only seek to foreclose on the property Or sue to collect the debt? Or is it that a lender is only permitted one lawsuit to collect mortgage debt?