By Admin on Dec 16, 2008 in Renting & Real Estate
Huynh T asked:
foreclose the house. Will the mortgage companies go after her with the money her own ( she have some money in her bank). CA law. thanks
she has money in different banks that is not the banks she has mortgage loan.
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foreclose the house. Will the mortgage companies go after her with the money her own ( she have some money in her bank). CA law. thanks
she has money in different banks that is not the banks she has mortgage loan.
Content

She should try to sell the house if at all possible before the foreclosure happens.
Whatever money she owes for the house is still due to the banks no matter if she sells or is foreclosed on. Yes, the banks will come after her for what they are owed if they are not paid in full when the house is sold.
Good luck.
Andrea | Dec 18, 2008 | Reply
Yup, they sure will.
You can’t sit on money when you owe someone money.
She signed a paper at closing given them advance permission to do an asset search on her. If she has money somewhere, they’ll know.
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Kayla | Dec 22, 2008 | Reply