Can I lose current home if rental goes to foreclosure?
We bought a house about four years ago, and put our old one up for sale. When the old one didn't sell, we rented it out and tried to sell again between tenants. Four years later, the rental house has depreciated so much that it is almost worthless. We have had it on the market almost a year, and nothing. Homes in that area are selling for under 10k. We owe 29k, because once upon a time it was worth much more. It is going to foreclosure soon, because we could not keep up with the rising taxes and repair expenses (expenses much greater than rent). I have heard that the deficiency balance can be attached to my home as a lien. My question is, if that happens, can the bank force me to sell/or forclose my current home?