The HELOC in a Short Sales Transaction

[danj]

My question involves real estate located in the State of: California

Recently, in January I sold my home in a short sale. The original purchase was for $600,000 with a $60,000 down payment, a $450,000 First mortgage and a $90000 HELOC both with the same lender.

The short sale was for $375000. The lender agreed to the short sale and forgave the first balance remaining and $4000 of the Heloc.

Does the lender still have recourse to me for the balance of the Heloc they didn't forgive?

[Mr. Knowitall]

I can't read the documents you signed with your lender from where I'm sitting, and they will indicate what further recourse your lender has. If the lender reserved the right to pursue you for part of the deficiency, that's your answer. If you don't understand the documents, run them past a lawyer.