I am confused. First loan is $550k and 2nd loan is $150k for primary house in California--- included when I filed BK7 in 2009, discharged early 2010. Primary house is now in foreclosure; NOD was filed Oct 2012. I am confused because I received debt forgiveness from BofA for 2nd loan ---- is my mortgage loan considered Recourse or Non-Recourse loan? No Trustee Sale date yet, but is my house being foreclosed via Judicial or Non-Judicial process? I just want to make sure that I don't have to pay taxes after 2013 foreclosure.
Thanks in advance for shedding light on this.
Bankruptcy Bankruptcy court Credit Debt Mortgage lien Medical malpractice Bankruptcy and debt Residential property Commercial real estate Real estate finances Foreclosure Short sales Real estate and bankruptcy Home mortgage Real estate Criminal charges for harassment Federal crime Tax law Purchasing a house Deed of trust Federal court