I want to update on your some foreclosure news.
First, Walt Gray in Sacramento at KCRA 3 News ran a story about a case of mine where we obtained an injunction preventing a sale of a house. The exciting news is that the there was no requirement of a bond, which appears to be a first in California. You can watch the story here.
Second, Jim Wasserman of the Sacramento Bee wrote a story about debt collectors coming after homeowners. This is happening more than you would think, especially with second mortgages and lines of credits, sometimes called HELOCS. The story does talk about how often this is happening in Sacramento. However, remember that not every second mortgage is recourse. In other words, many times after a foreclosure, the bank still cannot collect money from you on a second mortgage.
Recently, two clients of mine received letters and with a few letters back, we got the debt collectors to go away. Just because a debt collector says you owe the money does not mean you owe the money. You need to check with an experienced attorney to see if you really owe the money.