Real estate blog entries tagged with non recourse by Gary Ginsberg (Area Pro Realty NorCal)

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Home : Blogs : Gary Ginsberg : Gary Ginsberg's Danville Real Estate Blog : Tag "non recourse"

non recourse: Short sales and recourse status - 02/26/08 10:04 AM

I looked at the web discussions about recourse and non-recourse loans and then opened the textbook. Purchase money loans are non-recourse..even if junior lien. Subsequent loans and refis not protected by anti-deficiency measures.
The big gap in textbook and discussion on web.. 80/20 purchase money scenario that used a credit card type HELOC as the second purchase money loan. Is the HELOC recourse in this situation if the 1st position lender forecloses non-judicially?
My query regaards CA only.
… (1 comments)

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Gary Ginsberg

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