Posted on: 01st Feb, 2011 06:33 am
I own a home in ohio that has not sold in 2 yrs. I also have bought and own a home in tx. If I let the home in ohio foreclose can my home in tx be in jeopardy or taken?
Hi lkaminski,
After you let the home in Ohio is foreclosed, the lender will have the rights to come after you in order to collect the deficient balance. However, in order to come after your property in Texas, he will have to file a lawsuit against you in Texas and get a judgment.
Take care.
After you let the home in Ohio is foreclosed, the lender will have the rights to come after you in order to collect the deficient balance. However, in order to come after your property in Texas, he will have to file a lawsuit against you in Texas and get a judgment.
Take care.