Posted on: 12th Aug, 2008 06:19 pm
if my house goes into forclosure and i own another home (buillt from equity in the home that is going into foreclosure) can the bank take that home from me?
Hi Guest.
Welcome to the forum.
If your house goes to foreclosure then the lender can place lien on your other properties. Your credit will also face a huge negative affect for the foreclosure. So why don't you try to sell the property to pay off the lender. Have you consulted with the lender yet?
Best of luck,
Larry
Welcome to the forum.
If your house goes to foreclosure then the lender can place lien on your other properties. Your credit will also face a huge negative affect for the foreclosure. So why don't you try to sell the property to pay off the lender. Have you consulted with the lender yet?
Best of luck,
Larry