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Foreclosure Threatens |
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I CURRENTLY OWN 2 PROPERTIES, ONE 1 RESIDE IN AND 1 I AM CURRENTLY RENTING. I AM HAVING DIFFICULTY SELLING IN THIS MARKET, AND I AM COMING OUT OF POCKET TOO MUCH FOR THE RENTAL, HOA DUES, ECT. IF THE PROPERTY GOES INTO FORECLOSURE HOW WILL THIS EFFECT THE HOME I RESIDE IN?? |
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If a foreclosure auction doesn't bring enough to pay off your mortgage, the legal costs, back taxes etc., then the lender can ask for a deficiency judgment, which would be placed as a lien against your other property. |
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Edith
Originally published on December 12, 2007 |
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