stopforeclosure, you’re a very good sport to ignore the name calling. We need your type of knowledge on this forum, so please stick around.
Do you have an office in San Diego?
In CA, the 2nd deed holder does have recourse and can go after the homeowner, right? Since most recent buyers have 80/20 or 90/10 loans, they would fall into the category of having to deal with a 2nd lien holder.
The law is different for mortgages that were used to purchase the home, vs. those used for refinance. I think most borrowers who purchased before 2000, refinanced after 2000, to take out cash or get a lower interest rate. Now they are refinancing at higher interest rates to get cash out. So the protection for the borrower is lost when he refinances.
What’s the law regarding forgiveness of debt; the borrower has to pay income tax to the IRS and state on the forgiven amount, at the full tax rate (not the lower capital gains rate).
Do you have an e-mail address? I could not get it off your website (got URL error message from contact us link).
