house for forcloser,had 2do. house

campo elias · #1 Feb 29, 2008, 01:11 PM

I have a house is for foreclosure, have 1er mortgage of 392,000.00 2do 92,000.00 loaned 80/20. the house is on short sale I will be in red 70,000.00$ if they sell it my question is if the bank will come after me. I have condo, were I live, no mortgage. has homestead ex.and tray to take away my condo o put lean on it

progunr · Feb 29, 2008, 02:30 PM

$70,000?

You can rest assured they will come after you for that kind of default.

Yes, if they get a judgment, you will not be able to sell you condo without
paying the judgment in full. They will also most likely garnish your wages as
well as levy of any personal property that has any real value to it to be sold
at auction and the proceeds applied to the judgment.

You are in a very unfavorable position my friend.

Good Luck with it!



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