Georgia | Business Law
10/05/09, 6:52 pm
Legal Question
non bankrutcpy situation. my situation: I owned a business (land, equip, building) and closed it Mar 08. Since I've rented it out, but in Aug 09 the tenant filed bankruptcy, leaving me to pay the mortgage ($3500); taking needed money from the family. Am considering giving up the property, foreclosure. I have 2 home being used as collateral (2d place on lien). I am in good status with my homes' mortgage holders. Q - if i turn in my keys to the fin institution, what happens to my property with the fin institution holding it as collateral. Will they drop it or try to force me to sell.
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Read More Answered By: Scott Riddle |
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