Effect of non-judicial foreclosure

Posted about 5 years ago. Applies to California, 1 helpful vote

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1

What loans were used to purchase the house

The loans that were used to purchase the home will be extinguished, and you will owe no money on them, in a non-judicial foreclosure. SO the first is wiped out,a nd if the second was used to purchase the home say on a 80/20 loan, it will be wiped out as well. If you took cash out or added the second later that will not be extinguished by a foreclosure

2

Get a copy of your Hud 1 closing document

Proof of which loans were used to purchase the house will be on your HUD 1 closing document.

Additional Resources

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