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.
All times are GMT -7. The time now is 01:35 PM. |