CA - Judicial Foreclosures and Deficiency Judgments

Submitted by Jim from CA - 03/04/2010 - 11:22am

Lots of reasons, not just financial, I have to get out of this Home. I do not want to keep it, and I'm trying everything, including DIL, short and lastly foreclosure. It is a CA recourse loan. How many judicial foreclosures are known, along with deficiency judgments? Where to find this data? County by county or????
Thanks!

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Comments

Submitted by dk - 03/08/2010 - 10:46pm

I am not aware of any. I am also performing the same research myself.

Submitted by Michelle - 03/11/2010 - 5:57pm

Do you have just a first or do you have a first and a first and a second mortgage?Remember that there is a "one action" rule in California. If you have only a first mortgage and the lender forecloses that is their "one action". Judicial foreclosures on residential properties are extremely rare in California.

Submitted by bobinspira - 04/03/2010 - 7:53pm

Jim - Have you consulted a professional and experienced Realtor? The should be able to assist and sell you home, negotiate with the bank and leave you in the best possible situation. I agree with Michelle that Judicial Foreclosure is extremely rare and if you have one loan, you should be in a great position to move on from whatever your situation is.

If you want to run your scenerio by me or want an introduction to a professional and experienced Realtor, please send me an e-mail and we'll help.

BOB, MBA, CDPE, ePro
bob@inspiragroup.com

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