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Foreclose

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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: 3184 Location: New Jersey 501.86 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.

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