i am wondering if after a forclosure can you be held responsible for any amounts of the mortgage that have not been satified (say it sells for less at auction) and you also have a second loan. i am considering foreclosure on a house i rented and the tenants trashed it and i cannot afford to repair it or make the payments, i know my credit will be ruined but will there be judgements and garnishments against me also? thanks for any info
1 Answer from Attorneys
Yes, the mortgage company can sue you for the deficiency.