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-   -   Forecloseing laws (https://www.askmehelpdesk.com/showthread.php?t=128280)

  • Sep 11, 2007, 07:33 AM
    7777out
    Forecloseing laws
    I have a house in New Jersey that will be in foreclosing soon and a land lot in Florida that will be going into forclosing I owe more than they are worth but I own another land lot in Florida that I own out right without no mortgage can they put a lien on it or try to take it from me thanks tony
  • Sep 11, 2007, 07:48 AM
    excon
    Hello 7:

    Yes.

    They're going to sue you for the difference between what they sell your property for at auction and what you owe. You'll lose. They'll lien your other property and you'll have to pay it off before you sell it.

    excon
  • Sep 11, 2007, 07:50 AM
    ScottGem
    Since its investment property its not an exempt asset. So they will go after it.

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