Home Loans and Support

walking away from 2 loans in CA?

Discussion in 'Deed in Lieu of Foreclosure - Do You Need Help to ' started by redklothing, Apr 10, 2009.

  1. redklothing

    redklothing LoanSafe Member

    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?
  2. ProfessorShays

    ProfessorShays LoanSafe Member

    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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