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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: 10K a day who wrote (91481)	10/6/2007 10:18:12 AM
From: Travis_Bickle	Respond to of 306849

Works for me but CA lenders would have to start requiring substantial down payments and the home equity loan business would be kaput. Lenders are in business to make money, not to serve as social service agencies.

To: 10K a day who wrote (91481)	10/6/2007 11:39:44 AM
From: Elroy Jetson	Respond to of 306849

California, like many states, already has an "anti-deficiency" statute which was enacted during the Great Depression. But this law applies only to the loan used by the owner to initially purchase the home. If the owner has since refinanced, or the token home owner has received a home equity loan, this protection does not apply. learnaboutlaw.com California should force lenders to accept whatever a house can be sold at. (Sellers should not have to come up with money at closure) .