Posted on: 21st Apr, 2009 06:03 pm
"Home sold due to foreclosure - Am I liable for second loan?" They been asking for the payment for a little over a year now. Would it be in my best interest to file for bankrupcty?
Hi Georgee,
Yes, you will be held liable for the second loan if the sale proceeds from the auction were not enough to pay it off. You can file bankruptcy, but that is not going to make them forgive the loan amount.
Yes, you will be held liable for the second loan if the sale proceeds from the auction were not enough to pay it off. You can file bankruptcy, but that is not going to make them forgive the loan amount.