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

    Jan 27, 2008, 10:04 PM
    Will foreclosure affect other properties I own?
    I have 2 properties. One is in the process of foreclosure. I would like to know how will this affect my other property. The second house is being rented and it is up to date on mortgage payments. Thank you.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #2

    Jan 28, 2008, 04:41 AM
    Hello carolina:

    Well, the bank will sue you for their loan balance, and if you don't pay, they'll slap a lien on your other house.

    excon
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!

Describe two factors that affect labor supply and two factors that affect labor deman [ 7 Answers ]

Describe two factors that affect labor supply and two factors that affect labor demand. Using economic principles, describe how changes in the labor market have affected you or someone you know.

Atomic properties [ 2 Answers ]

Why does calcium have higher boiling point than potassium? :confused:

Foreclosure on 3 investment properties. What's next? [ 6 Answers ]

In June, two of my investment condos went into foreclosure. The neighborhood went down... broken windows throughout the condo community, some condos burned in the inside... The amount on the loans were $110,000 for one of the condos, and $114,000 for the other condo. I also had an investment...

Foreclosure process and affect on credit [ 1 Answers ]

I am current on my mortgage payments however, my supportive income has been lost due to our separation. We were not married and his name was not on my home loan. I have attempted to sell the house in the past with no luck. I'm raising my children alone and it will be a true struggle to make the...

View more questions Search