Upcoming Foreclosures

If my rental property goes into foreclosure can the lender go after my primary residence or other assets?

Public Comments

1. Very likely. That is why folks set up an llc. To limit personal liability.
2. If this is property that you own, I hope nobody lives there, because they may be able to sue you. The answer is no, but I hope you are fine in your house now, because your credit score will be horrible, and you will not be able to get a loan, specialty now that the banks have stricken their policies. And you may not be able to get a car loan either. If you can, it will be a high interest rate, such as 20 percent or higher. You should of paid the property,or sold it cuz know you will end spending more money in interest
3. The Lender can legally go after any of your assets in most cases. There are many fine attorneys who earn a nice living just doing this very thing. Good Luck.
4. if there is a deficiency, you bet they 'll come after your other assets. Good luck!!!!