Can the mortgage company sue me in CA?
I bought a home in 2006. Had an ARM and didn’t know what it was. After a year I re-financed into a 5 year interest only loan. So I signed both a deed of trust, which contains a “power of sale clause”, and also an adjustable rate note. The note says I “waive the rights of presentment and notice of dishonor.” I want to do a voluntary foreclosure. Can the mortgage company sue me in CA (judicial foreclosure) for the whole amount of the loan, or will they just foreclose on the house? Presentment means “the right to require the note holder to demand payments of amounts due”. What does this mean? I need to foreclose right away, but I’m afraid. I am not insolvent, but will soon be if I don’t do this soon. Please help. thanks