If a person owned two properties and he let one go to foreclosure can they take the other one away and what kind of penalties goes with a foreclosure
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Read More Answered By: Sean Santoro |
It depends. Is there a guaranty or lien in effect on the other property securing the debt of the foreclosed property? Did you sign any contract giving the lender this right? The penalties of foreclosure are civil - damage to your credit rating being the foremost. Is the second property in arrears now? Have you been served with legal papers on the second property? Feel free to email me at sean@roadlawyer.net or call me at 913 441 5025 if you want to discuss this further. Sean Santoro/Santoro Law Office/Licensed in KS and MO |
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