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    • california refinance loans FAQ

    Refinance a non-recourse loan in california?

    Aug 22, 2007 by furball | Posted in Renting & Real Estate

    Is it true that in california, if I refinance a non-recourse loan (origional first and second mortgages I obtained to purchase a house I currently live in), the loan stays as a non-recourse loan, if I only refinance the balance of the loan, without taking

    A non-recourse loan is one where the lender is counting on the collaterall to be worth the loan amount. Correct? So if you refinance both loans, to a different loan program, the non-recourse loan is paid off by the refinance. Simply tell the lender

    Alterfemego | Aug 22, 2007

    I think no
    reena r | Aug 22, 2007

    For California, do both names on a mortgage refinance loan need to be on the house deed?

    Jul 30, 2009 by Jules Z | Posted in Renting & Real Estate

    I am in the process of refinancing my property with my father. Since both of our names will be in the mortgage loan, do CA laws required him to be on the house deed or title too? He does not want interest in the property. If no, is it possible to ask

    This is not legal, it is contractual, with the mortgage company.

    The mortgage company is not going to lend your father money for property he does not own. He will have to be on the deed.

    Landlord | Jul 30, 2009

    Your father cannot give lender a security interest in the home when he does not own it.
    Consider whether your father is co-owner, co-borrower or just a guarantor. Discuss this with your lender.
    chatsplas | Jul 30, 2009

    Is a cash out refinance loan recourse in California?

    Feb 03, 2010 by Roger Ba | Posted in Renting & Real Estate


    Yes, full recourse.

    Landlord | Feb 03, 2010

    california refinance loans news

    Mortgage Principal Reductions Weighed for Fannie, Freddie

    18.05.12 And Freddie Mac may let servicers forgive debt on a limited number of mortgages owned or guaranteed by the taxpayer-owned companies, according to a person with direct knowledge of the discussions.

    The model could be a new California effort that will pay for writedowns using federal dollars set aside for regions that have seen the worst housing-market declines, the person said. Because the government will bear the full costs of the California program, mortgages backed by the two government- sponsored enterprises will be eligible for the first time.


    Source: BusinessWeek