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If I foreclose on one property and owe a deficiency balance, can the bank come after my second home to pay the debt or will that home be safe as long as I continue to pay on that mortgage?

adonis · Posted: Wed Nov 19, 2008 9:47 pm Post subject:

Welcome sammy,

Michigan is a deficiency judgment state. As such, when the lender files such a judgment, you'll have to pay it. Otherwise, he may place a line on the second home. By the way, is your second home located in Michigan?

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deficiency balance in Michigan