Can they sell my home

[humrc]

I am in california and can not file BK. I have a loan that i am paying back to my mom and do not want hem to go after her as an insider payment.

My question is about my main concern...my home. I owe about 256K and its worth about 214K. In a judgement can they force the sale of my home? I am current with the payment. Thanks for the advice.

[walkthaplank]

Can who sell your home and for what reason?

How much have you paid your mom?

How much do you owe your mom?

[dingdong]

I think this is how it works, but I am no real estate expert.

I am guessing you are referring to a creditor placing a lien on your home after judgement.


If the judgement creditor placed a lien and tried to foreclose, since you are upside down, and the lender who holds the trust deed would be senior ( first in line on the note) then any second mortgage holder, then the creditor with the judgement, since the property is upside down, the lender witht the first mortgage would be paid first , then if there was any equity in the home after the sale and the first paid off, the lender that holds the second would be paid ( if there is one), then the judgement creditor.

So, unless you have significant equity, ( which you dont as you state) the creditor would get squat.

Not even sure a creditor other than the holder of the mortgage note can foreclose in California ( with the possible exception of a Federal tax lien, but again not sure)

Google California Foreclosure and lien and you will probably find a ton of info on the subject, and I will include my caveat of I could be completely wrong, but I don't think, even in any state that a property w/o any equity that was foreclosed on by a junior lien holder would yield any return on the judgement for the junior lien holder.