If i foreclose on my investment property, can the bank come after me and put a lean on my primary residence?

Asked by Mattie123, West Palm Beach, FL Mon Jan 10, 2011

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Whitney Hall, Mortgage Broker Or Lender, Fort Myers, FL
Wed Jul 3, 2013
The answer is yes they can put a lien against you personally and other property you own. I would highly recommend The Law Offices of Felder and Assoc. They negoiate great terns for their clients. 954-442-7600 is their number. You want an acutal attorney handling this for you.
0 votes
Eli Givoni-S…, , Boca Raton, FL
Thu Jun 27, 2013
That is a legal question. I am not an attorney and can't give legal advice.

However, you can keep foreclosure off your credit, if you do a short sale. We will negotiate with the bank to try to get you off the hook for the deficiency. Our short sale services are FREE for homeowners. Feel free to give us a call, and we can explain the process.

Eli Givoni, Director
Short Sale Department, LLC
561-361-1909
info@shortsaledept.com
http://www.shortsaledepartment.com

MARS Disclosure for General Commercial Communications
IMPORTANT NOTICE:
Short Sale Department, LLC is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.
0 votes
Linda Windsor, Agent, Golden Lakes, FL
Thu Jun 27, 2013
Besides being a Realtor I offer LegalShield. A monthly membership to have access to knowledgeable attorneys to answer these questions. Real Estate agents should not be offering legal advice. Check my web site http://www.lwindsor.com
0 votes
Marsha Mayer, Agent, WEST PALM BEACH, FL
Tue Apr 26, 2011
We all have our opinions and personal and professional experiences with this type of matter.
Check with a credentialed Real Estate Attorney with litigation experience in these matters.

Good luck.
0 votes
Charlotte Ra…, Agent, Ramsey, NJ
Mon Apr 11, 2011
Get a competent real estate attorney in your state that handles distressed properties on a regular basis.This is not a question that should be handled on a real estate broker/agent site. All jurisdictions handle this matter differently. I am a NY,DC, PA real estate lawyer and a broker in both Florida and NY. Get legal advise from a Florida lawyer.
crg824@gmail.com
0 votes
Zaza Pasori, Agent, Washington, DC
Thu Jan 13, 2011
Most likely they will not come after your personal residence because they need to get a deficiency judgment against you.To be on the safe side I would contact a real estate attorney in your local area.

Good Luck,
0 votes
Luis E. Loza…, Agent, Weston, FL
Mon Jan 10, 2011
the best for you is to do a short sale and work with a lawyer to have a final decision
0 votes
Lebau, , Los Angeles County, CA
Mon Jan 10, 2011
im helping a friend in this same situation right now. yes, the bank may come after you and if they obtain a judgement in court, they may put a lien on your property. but that would be a last resort for the bank. they want cash, not tangled up claims to assets. the going market rate to settle a deficiency balance is 10% of total balance. i know this because the bank that im dealing with told me up front. if you can come up with 10% of the amount you owe them, they are likely to settel the balance in full. of course you have to understand how debt collection works. debt collectors will always try to get more than you offer. so you start by offering about 5% and with time work your way up to 10%. any more than 10% and youre getting ripped off...been there done that...
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Scott Godzyk, Agent, Manchester, NH
Mon Jan 10, 2011
Chances are they can cwertainly try to get an attachment through court, you bet check with yoru attorney to see how Florida law works in this situation. You would be better off to try and sell it through a short sale .

Please see my blog how to sell through a short sale
0 votes
Dallas Texas, Agent, Dallas, TN
Mon Jan 10, 2011
Always best confer with a real estate attorney Virtual answer not to your benefit to many questions require answers.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
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