The value of our condo has decreased by $80,000.00 and our loan was for 100% of the value at the time of the mortgage, which was about 3 years ago. Can the mortgage place a lien on your wages or just reunion your credit.

The value of our condo has decreased by $80,000.00 and our loan was for 100% of the value at the time of the mortgage, which was about 3 years ago. Can the mortgage place a lien on your wages or just reunion your credit.


You can't foreclose on your own property - only a bank or lending institution can foreclose.

They can pursue you for their loss - the difference between what you owe plus all the related expenses and what the property sells for.

And a foreclosure, whether the financial institution pursues you or not, is going to ruin - which I assume you mean - your credit.