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Tag Archives: non-recourse loan

How Do I Know if a 1099-C Has Been Issued? – Nancy

We had a house go into foreclosure last year, the house was in our separate names as we were not married, and live in Washington State. I did have a lawyer after the fact trying to keep us out of court for another matter relating to this. From what the lawyer said, because Washington is a non-recourse state, the bank ... Read More »

    Is my California second mortgage a non-recourse loan they can’t collect on?

    Ready to Collapse

    I purchased a home in 2006 with a 80/20 purchase loan in the State of California. In 2008, I became disabled and was no longer able to pay. Subsequently, the home foreclosed. The 2nd lien holder has attempted to collect since 2008 on the balance they say I owe them. From what I understand under California law if a loan ... Read More »

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