How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask legalgems Your Own Question
legalgems, attorney
Category: CA Real Estate
Satisfied Customers: 10484
Experience:  Just Answer consultant at Self employed
Type Your CA Real Estate Question Here...
legalgems is online now
A new question is answered every 9 seconds

I lost my job. I own 2 condos but have no savings. I wrote

This answer was rated:

Hi, I lost my job. I own 2 condos but have no savings. I wrote previously and Michael Bradley suggested I seek a home equity loan. I tried my Wells Fargo, they said no. What are other options besides reverse mortgage? I will sell my Maui condo, and keep my SJ CA condo and seek work. Where can I get money fast to pay my bills for the immediate or what can I do?

Good Day!A few minutes please as I review your question so I can provide you with legal information. Thanks!

I am very sorry to hear this.

Generally if one has no income due to a change in employment it is very difficult to get a lender to make a loan. That is why people will often turn to family or friends as a temporary solution (which can be an issue because if a person declares bankruptcy often the family/friend will not see the money since the trustee will not give them preference but will treat them as an unsecured creditor).

It is possible to see if one of the homes would accept a short sale, and then possibly the other mortgagor will work with you while the other home is being sold. It would be difficult to determine without knowing one's equity but generally a lender will work with you for a short time if there is equity, and a positive long term history with the lender.

Further questions? Please post here to continue the chat.

Satisfied? Kindly rate positively so I receive credit for assisting you. I hope that you feel I have earned

5 stars 🌟🌟🌟🌟🌟*****

as I strive to provide my customers with great service. ☺️

(no additional charges are incurred).

Information provided is for educational purposes only. Consultation with a personal attorney is always recommended so your particular facts may be considered. The terms addressing this can be viewed here:

Thank you and take care.

Please see:

Customer: replied 1 month ago.
I own both condos, no mortgages. Does this make a difference?

Yes it does; normally people are worried about foreclosure so that is good to hear.

Generally the route is home equity loans, and you may need to shop around; but please see this advisory:

Also some private investors are willing to take an interest in a home or to use the home as collateral for a short term loan; those tend to have high interest rates and the lender should be thoroughly vetted and any documents reviewed by an attorney.

Hello again; just checking in to see how things worked out;

If you have no further questions a positive rating is most appreciated (at no additional cost to you) and allows the site to credit my account for the time spent assisting you!

if you have further questions please don't hesitate to reach out to me here on Just Answerand I will do my best to get you the requested information.

The above information is for educational purposes only. A consultation with a private attorney is recommended so they can apply the law to your specific facts, and suggest the best course of action. An attorney can be located here:
Terms of service can be viewed here:

legalgems and other CA Real Estate Specialists are ready to help you