As long as you are paying the mortgage on your primary residence, no, they will not take your primary residence from you. I have never seen this done and sell 1-2 short sells each month in the area. Even in a bankruptcy, your primary residence is protected from being taken by creditors.

Hi Pebbles, have you tried to refinance your loan or asked for a forebearance? Talk to your lender to work something out. It's very important to communicate with them. If you can't work it out for some reason you might consider selling.

Nina
414-7371

Hi Pebbles,

The answer depends on what type of loan you have either a recourse or a non-recourse loan and how your state forecloses either judicial foreclosure or non-judicial foreclosure. If your lender foreclosure by judicial foreclosure and gets a deficiency judgment against you then you might have your other assets sought after and loose your primary home. Here is a link to a very good foreclosure prevention workshop on line video. Good luck!

http://www.foreclosureoptionsnetwork.com