Posted on: 28th Jul, 2009 12:07 pm
Our house is worth $400K less than we paid. We have interest only JUMBO. We owe $925K. If we walk away can the Bank come after our small business? Everything we have is in a revocable trust.
Insted of walkign away you cna check with yoru ledner if they are willing to do a deed in lieu
But to answer the orginal question
The lender can come after your assests to collect the deficient amount
But to answer the orginal question
The lender can come after your assests to collect the deficient amount