I am foreclosing on my house in California. I have an 80/20 Loan. Can I just walk away?
I got a first and a jumbo to get my house. My mortgage has sky rocketed and the property has dropped $ 200k in the past year.
I will be foreclosing on the house.
Do I need to pay back any of the loan? The 80 & 20 are from the same bank.
Please post only if you know the correct answer, not what you feel.
but, only if they include in the foreclosure paperwork, correct?