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Short-Sale A Second Mortgage – Sherman Oaks Real Estate

by Mario Acosta August 3, 2011 Local Topics

How Does a 2nd Mortgage Affect My Short Sale?

Yes, you can still do a short sale if you have a 2nd mortgage such as a Home Equity Line of Credit (HELOC) on your Sherman Oaks real estate, however it can be more difficult depending on your specific lender.  It is important to understand that HELOC …

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Can A Lender Pursue You After A Short Sale – Sherman Oaks Real Estate

by Mario Acosta July 6, 2011 Sellers

Your Lender May Have Recourse

Sherman Oaks homeowners need to be aware of the different types of mortgage loans and their impact in a short-sale.

There are two types of loans in California, “recourse” and “non-recourse.”  A non-recourse loan is a loan obtained to make the initial purchase of a home, also called a “purchase money loan.”  …

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