Ways to hold title under California Law.
Many people ask if they should change the names on title when when they are facing a foreclosure or a short sale.
The answer is it depends on what you are trying to accomplish and if by doing so you might give the bank a piece of evidence it might need to argue you should not be protected by California's anti deficiency protections.
Additionally, changing the name on title may not accomplish your goals.
It may protect credit if done in time, it is unlikely to change responsibility for the loan balances.
You should definitely speak with an attorney before you change title.
(beware of foreclosure consultants suggesting you put title in someone else's name.
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for more on short sales and foreclosure law.
