Posted on: 12th Jan, 2009 06:13 pm
I have a rental house that i can no longer afford. If the rental property goes in foreclosure will they take the house i am presently living in as a
deficiency judgement.
deficiency judgement.
Hi nik,
If you are unable to pay off the deficient payments, then the lender may place a lien on the property in which you are living in. However, if you pay off the deficient amount, then the question of lien does not arises.
Thanks
If you are unable to pay off the deficient payments, then the lender may place a lien on the property in which you are living in. However, if you pay off the deficient amount, then the question of lien does not arises.
Thanks
What if i still owe on the house I live in is it likely they will put a lien on?
Welcome back nik,
Yes, though you owe on the house you presently live in, the lender who forecloses the rental property can still place liens on it.
Yes, though you owe on the house you presently live in, the lender who forecloses the rental property can still place liens on it.