[Carol H]

[F]
Can the mortgage company take our 401K and CDs in a foreclosure?

We purchased a condo with the intent of selling our condo and moving to the new one. That was 2 years ago! We have had them both for sale for over 2 yrs. We can no longer afford to make the payments on the new condo ($3000/month) that we were going to move into.

We can only sell it for ~ $300,000. We owe ~ $370,000, and have paid ~ $72,000 in payment on it over the past 2 yrs.

[AK lawyer]

Depends on whether the mortgage was non-recourse or not. If the mortgage company can foreclose and sue you for the deficiency, they can, when they get a judgment, seek to execute upon those assets.

You should see an attorney about whether this paricular mortgage is non-recourse and, if it isn't, negotiating a short sale.