World's Largest Mortgage Community

Foreclose

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
Guest	Posted: Wed Oct 21, 2009 1:53 pm    Post subject: Foreclose Joshua My friend an I own a piece of property in Naples, FL under a LLC we personal signed loan contract from both of us only. He lost his job and we can't make payment anymore. It is going to be foreclosed on. Can bank come after my wifes and I house or cars owned by my wife and I?
Niicss Joined: 03 Oct 2005 Posts: 2617 Location: New Jersey 409.01 Dollars($)	Posted: Thu Oct 22, 2009 1:22 am    Post subject: If your name is on the mortgage, then the lender can sue you for the deficient amount resulting from the sale of the property. If you cannot pay off the deficient amount, then the lender may place a lien on your property. _________________ Good is the Enemy of Great.

Quick Reply
Your Name
Subject
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0