I am a landlord in california looking to either short sale or Deed in lieu of foreclosure on a townhouse I bought as a primary resident. I have not refinanced the original 80/20 purchased money loan from the same bank.
A year and a half ago I have purchased a new home and have rented the townhouse. I also have a quarter ownership on a family rental property that doesn't really make any income.
I am aware california is a non recourse state but would like to confirm that if I chose to exercise either actions that the bank can't not go after my assets like the family rental and my current primary home.
please advise thank you.
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