Posted on: 14th May, 2011 06:32 am
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?
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
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