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Rodgers kills you with his handgun as you enter pizza hut to get your lunch. I mean, can anything be more unfair than having your entire future obliterated by a lunatic like Rodgers? You don’t even know the guy. It’s totally random. He vents his anger on you because you’re with a “hot chick.”

In California, 90% of foreclosures are extra-judicial. This means there is no lawsuit so there is no foreclosure deficiency. The 10% that have a judicial foreclosure lawsuit will end up with a foreclosure deficiency. The problem in California is that there is usually a home equity loan or a 2nd mortgage on the property. Even in a non-judicial foreclosure in California, you will end up with a foreclosure deficiency for the entire amount of the home equity loan (HELOC) or 2nd mortgage. For example, you owe Bank of America $500,000 on the first mortgage, and $100,000 to Green Tree for the HELOC. The foreclosure sale by Bank of America yields a net of $400,000. You will not owe Bank of America anything if the house was extra-judicially foreclosed, but certainly you will still owe Green Tree $100,000 on the HELOC even if you no longer have the house.

The foreclosure may have happened in 2009, and it is only now that Green Tree is after you for the $100,000. Consider a Chapter 7 to wipe out the $100,000 if you qualify, or a Chapter 13 and pay a portion of that debt, perhaps even pay Green Tree nothing in a zero percent plan!

“As for God, His way is perfect; the word of the LORD is proven; He is a shield to all who trust in Him.” – Psalm 18:30.

Lawrence Bautista Yang is a graduate of Georgetown University Law Center and has been in law practice for thirty years. He specializes in bankruptcy, business and civil litigation and has handled more than five thousand successful bankruptcy cases in California. He speaks Mandarin and Fujien and looks forward to discussing your case with you personally. Please call (626) 284-1142 for an appointment at 1000 S Fremont Ave, Mailstop 58, Bldg A-1 Suite 1125, Alhambra, CA 91803.