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  1. 04-10-2009, 02:18 PM #1
    redklothing
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    walking away from 2 loans in CA?

    Thank you for the help.

    We have our first with Aurora at $355 and our second with Citi at $110 and we're upside down by about $175K.

    With CA being a non-recourse state I understand that the debt for the 1st can't follow us, what about the 2nd with Citi?
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  2. 04-10-2009, 06:01 PM #2
    ProfessorShays
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    Re: walking away from 2 loans in CA?

    The key is how the loan was created. Please answer the following:

    Was your second loan created at the time you purchased the residence and all of its proceeds used to purchase the home?

    Daniel
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