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bill6 · Joined: 09 Sep 2010 Posts: 1 1.44 Dollars($)

I foreclosed and walked from my house in Southern California several months ago now I have a collection agency badgering me for the 2nd mortgage. I tried to pay off the $75K 2nd with a negotiated one time payment of 5K during a loan mod, but I couldn't pay it and walked.

I don't know if there was delinquency with the 1st mortgage (I'm sure there was) and the 2nd mortgage was a re-finance.

I moved to another country to keep my business alive and I got things back on their feet with the biz living in Paraguay for 6 months. Now I'm back living in a rental apt. I make barely enough money to pay my rent and bills, have no personal assets except my truck (7K max) and the only other asset I have is my internet business, which itself is worth some money but I have no assets at all right now given market condition and drops in sales.

Could the 2nd mortgage company get a judgement on me and could they enforce it by coming after my business which is worth at this time next to nothing but it's growing quickly?

What are your thoughts? thx so much

adonis · Posted: Thu Sep 09, 2010 8:43 pm Post subject:

Hi bill,

If you did not pay off your second mortgage in full, the lender can sue you for the balance amount. In that case, he can file a lawsuit against you and get a judgment and then place a lien on your business or your checking account.

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Can I still be sued?

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