Knownot writes: >> . . . as more and more mortgage lenders appear to be beginning to do >> unlike their reliance in the past and to date on non-judicial foreclosure >> in that state . . .
>> As noted, it is questionable whether this will continue predominantly to be >> so in Calif., at least with respect to borrowers/debtors who have other >> assets not exempt from the enforcement of money judgments and who are >> employed and may not be eligible for Ch. 7 bankruptcy relief. Do you have any evidence that California lenders are filing more judicial foreclosures? Judicial foreclosures are very expensive compared to non-judicial foreclosures and only justified if there is a significant deficiency and assets to pay the deficiency, which is a very rare combo The number of subprime borrowers that have other non-exempt assets is miniscule. That is part of the reason they are subprime borrowers in the first place. David Shemano
