Non-recourse 2nd Mortgage in California with Bank of America...

You should talk to an attorney... your question is very vague, but if I'm reading between the lines, it sounds like you had a foreclosure and the 2nd is still showing the account open and currently 120+ days late.. The lender has the right to report the bad debt.. Non-recourse laws have to deal with the ability to collect... but has nothing to do with how the lender chooses to report to the credit report... talk to a local attorney and see if he can give you advice on how to get them to write off the debt or close the account.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

It sounds like you lost your home to foreclosure, presumably by the first mortgage lender, but BofA is still reporting the second mortgage as delinquent. If I am right, you would not lose your anti deficiency status as you and they are subject to the rules in place on the date of the foreclosure. Therefore, they should charge off the amount as a loss and be done with it. Since it is obvious that they are not doing that, you may need to get an attorney involved, and since it seems the only way to get the big banks to cooperate and follow the law is through court action, maybe a lawsuit against them would get their attention. Good luck. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

are you upside down in your home value? you can email me at yourloanpartnerforlife.com linda i might have a solution for you

sorry email is yourloanpartnerforlife@live.com

Yeah, there' s more going on here than is you are either telling us or that B of A is not telling you. Email Linda that Responded and have her help you. She needs a lot more info than you gave.

I would suggest you contact a real estate attorney, or if you cannot afford that, try contacting a credit repair company.. As long as BofA continues to show that account open, it can affect your credit and your ability to purchase a home in the future.. Based on current guidelines, you must wait 3 years after the home is taken out your name or from the day the loan was charged off.. in your scenario, the loan is still active, you have not had one day into the 3 year waiting period... you can try contacting the credit reporting agencies yourself, however you should read a few articles on how to properly dispute credit.. if not done right, it could make things worse....I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

I would not encourage you to spend $300 an hour for an attorney at this point. You could just wait it out, but it will stay on your credit report for 7 years from the date of the foreclosure and you should not have to put up with that, because it will mess with your credit score and. The first and easiest way to get the ball rolling would be to file a complaint with the Consumer Financial Protection Bureau. This is the new government watchdog agency and they have some pretty big teeth. Visit them at www.consumerfinance.gov. Good luck. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Just to be clear, If the first mortgage is foreclosed upon, and your state has an anti-deficiency statute AND your second mortgage meets the criteria of the anti-deficiency statute, then the actions of a lender to attempt to collect on a second mortgage that no longer has legal standing (because it meets the anti-deficiency test), is most likely a form of harassment. If however, your second mortgage does not meet the anti-deficiency test, then the lender should have the right to try and collect. Usually (but not always) the test is based on when and how the second mortgage came into being. If the second mortgage was arranged for at the time you purchased the property and you signed the loan papers for it at the same time you signed the papers for the purchase and the loan papers for the first mortgage, it should meet the test. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

i do have a referral for you for a real estate/ forclosure attorney, that does not charge you a arm and a leg.. linda yourloanpartnerforlife@live.com

Then I would file a complaint with the CPFB. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ Licensed in California and Arizona ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950