Tuesday, October 18, 2005
MercuryNews - Obscure mortgage refinance rule adds risk
CALIFORNIA - As long as homeowners retain their original mortgage, a little-known state law prevents lenders from going after more than just the home. Refinancing frees lenders to go after cars, savings and brokerage accounts, unrelated real estate holdings and other assets to make up the difference -- even if it takes a decade or more to square the debt.
