CA real estate and foreclosure law, will i lose my home if first mortgage is in default

If you pay the first but default on the second, the second will foreclose. If you pay the second but default on the first there is a good chance the second would be wiped out. But either way you lose the house.

Go talk to an attorney experienced in foreclosure laws. There are many laws, both Federal and State, that are designed to protect you and keep you in your house. There are ways to reduce your mortgages or even wipe out your second mortgage. Both Federal and State laws have changed dramatically in the last two months, offering much greater protection to homeowners in distress. Talk to someone who is keeping up on those laws and can give you appropriate advice.

There are many options avaiilable to you right now. The worst option is for you to do what you are contemplating. That is a great way to lose your house, destroy your credit and face potenttial money judgements against you.

This is not a good idea. You are simply throwing away your money if you only pay on one of your mortgages. The second lien holder will still foreclose. If you are going to pay, then pay them both. From your question, it looks like you have negative equity in your home. Negotiate with the lenders to re-structure the loan or to agree to a short sale. If you want to keep your home, go seek the advice of an attorney who handles foreclosures.

David C. Beyersdorf