Posted on: 15th May, 2009 12:30 pm
Please tell me if I am in danger of losing my home if my husband took out a bank credit line about 7 years ago and lost his corporation but leaving 50K out on this line which we pesonally tried to make mininal payments but could after two years. The line is personally guarnteed... Can the judgement against him take my house if its the only thing he owns but is titled jointly? are there any options? we dont have any extra money and are bearly making ends meet. Please advise. The judgement date in souty is May 26. Thanks!!!
Hi feather!
Welcome to forums!
If the property is used as a collateral for the bank loan, then the bank can definitely foreclose it to recover the dues. I would suggest you to go for professional help. You can contact an attorney and take his opinion in this regard.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
If the property is used as a collateral for the bank loan, then the bank can definitely foreclose it to recover the dues. I would suggest you to go for professional help. You can contact an attorney and take his opinion in this regard.
Feel free to ask if you have further queries.
Sussane