California Real Estate?

[rjones1980]

My grandparents bought a house in California in 1991. They refinanced it in 2008ish. They retired to Las Vegas in 2010. They had a renter in the California house since then. The rentor has moved out and they can no longer afford their mortage in California. Does anyone know if thet can short sale or walk away and not face a deficiency judgment?

 

[HomeGuru]

My grandparents bought a house in California in 1991. They refinanced it in 2008ish. They retired to Las Vegas in 2010. They had a renter in the California house since then. The rentor has moved out and they can no longer afford their mortage in California. Does anyone know if thet can short sale or walk away and not face a deficiency judgment?

**A: possibly if the lender let's them of the hook.

 

[nextwife]

Just curious: Did any of the refi in 08 fund any of the new place purchase?