Posted on: 21st Feb, 2009 12:09 pm
I have several rentals in Texas. If they go to foreclosure can B of A go after me for the Deficiency amout?
Hi JohnP,
Yes, if the properties are foreclosed, the lender will have the right to demand the deficient amount from you. If you cannot pay the deficient amount, the lender may either garnish your wages or can even place lien on your other property.
Thanks
Yes, if the properties are foreclosed, the lender will have the right to demand the deficient amount from you. If you cannot pay the deficient amount, the lender may either garnish your wages or can even place lien on your other property.
Thanks