05-13-2008, 08:12 PM
What's the downside for foreclosed homeowners in bubbilicious states like CA?
They got to move from a 2 bedroom apartment to a 4 bedroom house for the same amount or less they were paying in rent.
CA is a non-recourse state, so the homeowner can't be held liable for any deficiency when the house is sold (and can live up to a year in their house after they stop making payments)
They got to move from a 2 bedroom apartment to a 4 bedroom house for the same amount or less they were paying in rent.
CA is a non-recourse state, so the homeowner can't be held liable for any deficiency when the house is sold (and can live up to a year in their house after they stop making payments)