View Full Version : Foreclosure issues
propquest1
Jul 7, 2008, 06:44 PM
Hi,
When a secondary property is foreclosed, can the primary property be in taken?
George_1950
Jul 7, 2008, 06:46 PM
Welcome to AMHD. Can you try again? I don't understand the question. Is the debt being foreclosed secured by two different properties?
ScottGem
Jul 7, 2008, 06:49 PM
A foreclosure is against the property that was used as colletral for the loan. If the sale of that property doesn't cover the amount owed then its possible the lender may go after other assets.
propquest1
Jul 7, 2008, 07:16 PM
Thanks,
What happens when there is Foreclosure on a second property, in Florida, and that person's name is on the deed and not on the loan of the primary property? Is the primary still in jepardy? Thanks
JudyKayTee
Jul 8, 2008, 06:28 AM
Posted twice with slightly more info - should be combined for accuracy in answering.
ScottGem
Jul 8, 2008, 06:55 AM
I believe my response answers both questions. Please do not start a new thread for a follow-up use the Answet this question, Quote User or Post quick answer buttons to post a follow-up.