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Expert: - 1/7/2010


Question
I live in California and have 2 rental duplexes in Washington.
I have a first for $270,000.00 and a home equity line with Wamu/ Chase on each one for $60,000.00. They are now worth about $180,000 each. I am having a hard time getting a good loan modification and am facing foreclosure. I am concerned about getting a deficiency judgment on the second. I own 2 other properties with equity and have some other assets. Will Chase come after me for the $60,000.00 Can they attach wages, take property?


Answer
Ian,

If the creditor takes the judgment for the deficiency balance then they can go after assets in California. They can garnish wages and force the sale of certain assets.

If you would like to speak with our California attorney then you can call (214) 552-6647.

Chris Ebert
http://www.henleycreditlaw.com

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Chris Ebert

Expertise

I can answer questions for Texas and California residents concerning issues that involve creditor and debtor rights. Specifically, I can answer questions concerning: FDCPA, FACTA, FCRA, and Texas / California state collections violations.

Experience

For the last 6 years I have worked as a Sr. Paralegal in a law firm (http://www.henleycreditlaw.com) that defends debtors against their creditors. I have reviewed thousands of credit reports and under the supervision of our attorney helped hundreds of client resolve their credit issues.

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Henley & Henley, PC

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BBA University of Texas at Austin

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