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Viewing 15 posts - 46 through 60 (of 66 total)
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  • Author
    Posts
  • November 1, 2008 at 3:37 PM #296627
    j
    Participant

    Your sister should contact a consumer reporter like the I-Team, if this HELOC really was used only for purchase money. This looks like harassment and WAMU does not have a case at all.

    November 1, 2008 at 5:17 PM #296278
    barnaby33
    Participant

    Either the laws have changed or I have become confused. It was my understanding that in CA, only a first mortgage was non-recourse. HELOCs and seconds are recourse loans, as well as re-fi’s. Is that not true? Has the law on this changed recently?

    I know that presnit Bush signed into law that the fed would no longer come after you with a tax bill for foreclosure related losses claimed by banks, but I don’t think that changed the state law in any way.
    Josh

    November 1, 2008 at 5:17 PM #296619
    barnaby33
    Participant

    Either the laws have changed or I have become confused. It was my understanding that in CA, only a first mortgage was non-recourse. HELOCs and seconds are recourse loans, as well as re-fi’s. Is that not true? Has the law on this changed recently?

    I know that presnit Bush signed into law that the fed would no longer come after you with a tax bill for foreclosure related losses claimed by banks, but I don’t think that changed the state law in any way.
    Josh

    November 1, 2008 at 5:17 PM #296638
    barnaby33
    Participant

    Either the laws have changed or I have become confused. It was my understanding that in CA, only a first mortgage was non-recourse. HELOCs and seconds are recourse loans, as well as re-fi’s. Is that not true? Has the law on this changed recently?

    I know that presnit Bush signed into law that the fed would no longer come after you with a tax bill for foreclosure related losses claimed by banks, but I don’t think that changed the state law in any way.
    Josh

    November 1, 2008 at 5:17 PM #296650
    barnaby33
    Participant

    Either the laws have changed or I have become confused. It was my understanding that in CA, only a first mortgage was non-recourse. HELOCs and seconds are recourse loans, as well as re-fi’s. Is that not true? Has the law on this changed recently?

    I know that presnit Bush signed into law that the fed would no longer come after you with a tax bill for foreclosure related losses claimed by banks, but I don’t think that changed the state law in any way.
    Josh

    November 1, 2008 at 5:17 PM #296693
    barnaby33
    Participant

    Either the laws have changed or I have become confused. It was my understanding that in CA, only a first mortgage was non-recourse. HELOCs and seconds are recourse loans, as well as re-fi’s. Is that not true? Has the law on this changed recently?

    I know that presnit Bush signed into law that the fed would no longer come after you with a tax bill for foreclosure related losses claimed by banks, but I don’t think that changed the state law in any way.
    Josh

    November 1, 2008 at 7:26 PM #296312
    j
    Participant

    It is not for first mortgages but Purchase loans, so a piggyback loan is non-recourse.

    November 1, 2008 at 7:26 PM #296654
    j
    Participant

    It is not for first mortgages but Purchase loans, so a piggyback loan is non-recourse.

    November 1, 2008 at 7:26 PM #296672
    j
    Participant

    It is not for first mortgages but Purchase loans, so a piggyback loan is non-recourse.

    November 1, 2008 at 7:26 PM #296685
    j
    Participant

    It is not for first mortgages but Purchase loans, so a piggyback loan is non-recourse.

    November 1, 2008 at 7:26 PM #296727
    j
    Participant

    It is not for first mortgages but Purchase loans, so a piggyback loan is non-recourse.

    November 3, 2008 at 9:08 AM #297287
    Kat
    Participant

    Thanks, everyone! I’ll pass the info on to my sister!

    November 3, 2008 at 9:08 AM #297632
    Kat
    Participant

    Thanks, everyone! I’ll pass the info on to my sister!

    November 3, 2008 at 9:08 AM #297647
    Kat
    Participant

    Thanks, everyone! I’ll pass the info on to my sister!

    November 3, 2008 at 9:08 AM #297658
    Kat
    Participant

    Thanks, everyone! I’ll pass the info on to my sister!

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