To: dawn53
It was capped in Florida at one time at ten years, the cap expired, Rubio when leader refused to redo the cap, now it is twenty and can be renewed for another twenty. In short it is forever., the only state that has a drop dead date on debt collection is north Carolina. Given the federal governments involvement in causing the housing bubble crap one would think, they would put a cap on default judgment's, but don't look for such common sense coming from republicans. But you could call you representative and raise hell.
To: org.whodat
In California mortgages are by law secured only by the property. Banks have no ability to come after people for other assets once they foreclose.
70 posted on
03/28/2011 11:10:08 AM PDT by
Jack Black
( Whatever is left of American patriotism is now identical with counter-revolution.)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson