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Roger
Roger, Lawyer
Category: Real Estate Law
Satisfied Customers: 31009
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I'm current on my first mortgage but defaulted on my second

Customer Question

I'm current on my first mortgage but defaulted on my second mortgage in April of 2013. My house is worth $350-$360k with a 1st mortgage of $418k and a 2nd mortgage (heloc) $90k. I've offered to settle for $9k. How long do they have to collect under California law?
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: California
JA: Have you consulted a lawyer yet?
Customer: No
JA: Is there anything else important you think the Real Estate Lawyer should know?
Customer: In February of 2013 I fell and broke my hip recovered and in July last year I fell again and broke my upper right arm.
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Real Estate Lawyer about your situation and then connect you two.
Submitted: 5 months ago.
Category: Real Estate Law
Expert:  Roger replied 5 months ago.

Hi - my name is ***** ***** I'll be glad to assist.

Expert:  Roger replied 5 months ago.

In CA, the statute of limitations for breach of contract is 4 years from the date of the breach.....so the lender would have until 2017 to foreclose in order to protect its lien rights.