Ask Experts Questions for FREE Help !
Ask
    mijo668's Avatar
    mijo668 Posts: 2, Reputation: 1
    New Member
     
    #1

    Oct 4, 2007, 05:37 AM
    Foreclosure properties
    If I have several homes and I let a couple go into forecloser can they garnish my wages or force sales on other properties?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #2

    Oct 4, 2007, 05:46 AM
    If you own the properties personally, and you let them go in foreclosure and there is a remaining balance on the loans after the property is sold off, then yes, they can sue you, obtain a judgement against you and attach other assets like salary, bank accounts and other properties.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Foreclosure [ 3 Answers ]

Colorado I was told by a financial adviser that they could not take your home The elderly people have owned their home for 55 years it is paid and now rental property that he is on the mortgage is in trouble do to may factors. I was told on this site they could put a lien on the house I have...

Foreclosure [ 10 Answers ]

Hi: I have an apartment in Miami and I can not make payments anymore, I refinanced it sometime ago to afford making the payments but I run out of money and I have no job or income of any kind. If the bank foreclosure the apartment are they going after me for money if they sell the apartment for...

Bankruptcy and foreclosure [ 1 Answers ]

After you file a chpater 7 bk to stop a sale date on a foreclosure how long do you have before you need to move out of property if you don't reistate your loan:(

Home in foreclosure [ 1 Answers ]

If you are a landlord in Michigan and you evicted the renters for non payment of rent, and your home is in the beginning of foreclosure how long does your tenant legally have before they have to move out of the home.

What is the consequences of foreclosure [ 10 Answers ]

Hi, I have a property that is appraised for $540,000. I have a bank loan of $350,000. Since I took a interest only loan, it's going to expire in Sept 07. I need to pay off the loan. I have an unofficial partner who has screwed me over and the loan is only in my name. What happens to me if I...


View more questions Search