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Newly2b

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Newly2b

Re: nancy2 post# 106250

Wednesday, 08/08/2007 9:13:16 PM

Wednesday, August 08, 2007 9:13:16 PM

Post# of 148479
In California a homeowner can 'walk away' and let the home go into foreclosure and the lender is the one that eats the loss if it is a 'purchase-money loan' because the property is the sole collateral for the loan, but on a refinanced loan, the homeowner who walks away is still liable for a deficit judgment which means he will still owe for the total amount of loss sustained by the lender(s) due to his default on the loan, even though he no longer has title to the home.

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