Bob is right. If they get a judgement against you, it can be against any asset you have. If you own a house free and clear they could attach the judgement to that house, and then if you do not pay could seek a remedy to that, which would be bad for you. You should consult an attorney because maybe there is a way to shelter the asset you intend to purchase.

good morning....the answer to your question is no....however, if the foreclosing lender goes after you for a deficiency and gets a judgement against you, then they could seek remedy through your assets.....i would consult a real estate attorney.....if the atty feels there is some risk to what your attempting to do, perhaps purchase the house under an llc and lease it back form the coproration.........but first consult your accountant..........best of luck to you.bob mcclure- success mortgage partners- plymouth, michigan....

You may be confusing bankruptcy with foreclosure. You have given a mortgage to the bank for the purchase of one home and the bank can only forclose on that home unless you have used the home you paid cash for as collateral for the mortgaged home. In other words if you did not get a second mortgage on the cash paid for home, it will be sate. Bankruptcy is a different story.