Posted on: 19th Jul, 2010 03:55 pm
Can a lender take my personal home after a short sale on a different property and there's a deficiency on the mortgage. My personal home is in Ohio and the short sale home is in Florida.
Hi tlgloan!
Welcome to forums!
The two properties are located in two different states. After the short sale, the lender will have the rights to ask you for the balance dues. If you can't pay off the dues, then the lender can charge off the account to a collection agency who'll come after you for the dues.
As your personal home is located in Ohio, the lender will have to file a lawsuit in Ohio and get a judgment against you in order to place a lien on your property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The two properties are located in two different states. After the short sale, the lender will have the rights to ask you for the balance dues. If you can't pay off the dues, then the lender can charge off the account to a collection agency who'll come after you for the dues.
As your personal home is located in Ohio, the lender will have to file a lawsuit in Ohio and get a judgment against you in order to place a lien on your property.
Feel free to ask if you've further queries.
Sussane