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Short sale vs foreclosure and liens

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ddconjm Joined: 05 Jan 2011 Posts: 2 1.29 Dollars($)	Posted: Wed Jan 05, 2011 10:11 pm    Post subject: Short sale vs foreclosure and liens Like 0 Dislike 0 i have 3 rental properties in FL that are under water and the rents don't nearly cover the mortgage. If I short sale them or get foreclosed on will the lender put a lien on my primary residence in PA which I have equity in?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Wed Jan 05, 2011 11:36 pm    Post subject: Like 0 Dislike 0 Hi ddconjm! Welcome to forums! After the short sale, you'll be responsible for paying the deficient balance resulting from the property sale. If you don't pay off the deficient balance, then the lender can place a lien on your primary residence. However, in order to do so, he will have to file a lawsuit against you. Feel free to ask if you've further queries. Sussane

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