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jamescatalano · Joined: 14 May 2011 Posts: 1 1.00 Dollars($)

i have an llc with a single commercial property. i am the sole member. i signed for the loan personally as well. the tenants are defaulting on their rent which i have been paying. i cant any more. if the loan defaults, can the bank take my house?

jameshogg · Posted: Sun May 15, 2011 9:23 pm Post subject:

Hi jamescatalano,

As you've personally signed for the loan, the lender can come after your personal property in order to recover his dues if he does not receive the payments on time.

Thanks

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i am a single member llc. i have a single asset a commercial building. if the loan defaults, can the bank take my house

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