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The one-action rule that makes California a non-recourse state only applies to real estate mortgage loans. While some motorhome owners reside in their vehicles and may even claim them as a residence for tax purposes, they are not real property and the loans against them are not mortgage loans.
The loan you would have for a motorhome is either going to be a traditional vehicle loan or a specialty vehicle loan, and is therefore subject to the laws governing those loan types. Generally speaking a lender may pursue the borrower for any deficiency.
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Is Florida a nonrecourse state?
No, Florida is not a non-recourse state. If a mortgage is foreclosed in Florida, the lender may sue for any deficiencies between the amount of the loan still owed by the borrower and proceeds from the sale of the asset. This applies to mortgages, home equity loans, etc.
Are loans on mobile homes recourse or non recourse Purchase mobile home in California through mobile home mortgage company?
Is that one question or two. -Really doesn't make any sense after the second 'recourse' . Please re-write it in a simpler fashion so we understand exactly what you are asking.
How is sugar supported in the US?
Price supports for sugar in the United States are provided in the form of nonrecourse loans so that sugar growers can borrow money with the crop as collateral
What are some of the services that commercial mortgages provide?
Commercial mortgages provide loans for business properties. Many provide nonrecourse loans which means if a loan defaults, the property can be seized but the defaulter can not be held liable for additional money like a home loan can.
Interest rate on motor homes?
Motorhome interest rate is the yearly price charged by motorhome financing company in order for the borrower to obtain a loans. In general term it is expressed as a % of the total amount loaned.
How can you refinance your loans in California?
One can refinance their loans in California in a variety of ways. One can research the topic on sites such as Quicken Loans, Zillow, California Harp Refinance, and Bank Rate.
Is there any recourse a cosigner has against the borrower of a defaulted loan?
No, there is no legal recourse that i know of, but I do know of a way to help yourself if the loans are Federally Guaranteed student loans. Have the borrower consolidate the loans without you being a cosigner. Then, the previous loans will be paid off, and a new loan will be made. If you need help getting the defaulted loans consolidated, contact Default Management Services. Google the company name for a phone #. Ask for Doug, he is very knowledgeable.
How do you get a motorhome loan with low credit scores?
It is possible to get motorhome loan with low credit score. Many RV financing companies provide motorhome loans with low or bad credit score. Just you need to search the right motorhome financing company online in your area that can provides the motorhome loan with low credit score.
Is the State of Florida a Non recourse state?
If a mortgage is foreclosed in Florida, the lender may sue for any deficiencies between the amount of the loan still owed by the borrower and proceeds from the sale of the asset. This applies to mortgages, home equity loans, etc. which is being Forclosed upon in the State of Florida, which I understand to be a Recourse State. Since the loans are Non Recourse so I 'm not protected against them comming after my assests for any deficiency, even though the state of Florida is a Recourse State?
What kind of loans does Calvet offer?
CalVet offers home loans. These home loans are available for California Veterans through the California Department of Veterans Affairs. They, however, do not refinancing.
What companies offer home mortgage loans in California?
The Homepath company offers home mortgage loans in California and other states in the USA. Other companies offering home mortgage loans in California are Firstcal and Cal-Lending.
How do you know if your mortgage loan is a non recourse loan or recourse loan?
Good question, I have been looking for an exact answer my self. I have learned from my searches: Generally a note is an obligation to pay and must be paid in full. So, unless a note is explicitly non-recourse, the creditor can seek any of debtor's property for payment (subject to bankruptcy limitations). The general rule is that note secured by mortgages on property are recourse loans. The major exception comes from the antideficiency statues, common in the western states, that apply generally to mortgages securing loans on personal residences.
