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owning multiple properties when primary property is in forec

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smh Guest	Posted: Mon Aug 31, 2009 5:04 am    Post subject: owning multiple properties when primary property is in forec Like 0 Dislike 0 Is it against the law to sell off other properties owned when your primary residence is in foreclosure? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
savior70 Joined: 25 Mar 2009 Posts: 1895 Location: Florida 261.84 Dollars($)	Posted: Mon Aug 31, 2009 6:16 am    Post subject: Like 0 Dislike 0 Hi, If your primary residence is in foreclosure, it does not affect your other properties. Thus, I believe you can sell your property, unless it is used as collateral for the loan. Your other properties are not attached to the loan in any way, I believe, right? In that case, you can definitely sell off the properties if you want. Your lender should not have any problem with that.
jheard Moderator Joined: 12 Dec 2007 Posts: 734 Location: Houston, TX 116.72 Dollars($)	Posted: Mon Aug 31, 2009 6:35 am    Post subject: Like 0 Dislike 0 It depends. If they can come after you for the deficiency, then they may be able to go against the other properties. _________________ Disclaimer: This is not legal advice and I am not your lawyer. The information provided in this forum is for discussion purposes only, and is no substitute for an in-person consultation with an attorney who can analyze all of the facts and determine how your state and local laws may apply to your specific situation.

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