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tamdionne · Joined: 30 Jun 2010 Posts: 1 1.26 Dollars($)

I have a house in Oregon that I can no longer make payments on. Can the lender or the IRS put a lein on my second property?

jameshogg · Posted: Wed Jun 30, 2010 10:19 pm Post subject:

Hi tamdionne,

If you cannot make the mortgage payments on time, the lender will foreclose the property. After the foreclosure sale, you will be liable for paying off the balance amount resulting from the sale of the property. If you're unable to pay off the balance dues, then the lender can place a lien on your property.

Thanks

dipaligopale · Joined: 25 May 2010 Posts: 790 22.70 Dollars($)

tamdionne

How much do you owe? and what is the current price of the property ? if the deficit amount is not big enough (more than legal fees of the court and attorney) then the lender may even not come after once he foreclose the home and some amount recovered.

keep in touch.....

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ramification of forclosure