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Can the mortgage company come after your assets after forclosure?

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kelihoffman Joined: 07 Sep 2010 Posts: 1 1.00 Dollars($)	Posted: Tue Sep 07, 2010 1:34 pm    Post subject: Can the mortgage company come after your assets after forclo Like 0 Dislike 0 We are upside down by about $70k on our mortgage and now the house is in desperate need of repairs. I hate to put anymore money into a already bad situation. If we were to forclose can the mortgage company come after any of our assets, such as land and personal property?
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Tue Sep 07, 2010 10:20 pm    Post subject: Like 0 Dislike 0 Hi kelihoffman, After the lender forecloses the property, you would be liable for paying the balance amount resulting from the sale. If you're unable to pay the balance amount, the lender can file a lawsuit against you and place liens on your other assets. Thanks

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