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Are refinances of first mortgages also nonrecourse loans within CA beside Wells Fargo?

April 26, 2017ca Fargo Loans mortgages nonrecourse refinances Wells

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Are refinances of first mortgages also nonrecourse loans within CA beside Wells Fargo?

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No, they are fully recourse loans. Actually, there is no yes/no answer. It depends on the nature and vocabulary of the refinance, and the surrounding facts and circumstances. The more the refinance resembles the original purchase money loan, the more likely a court…