North Carolina  |  Real Estate Law

Legal Question

Asked on: 9/17/13, 8:03 am

I have a house in NC that is 30k upside down and have been renting it for 9 years because it won't sell. I also own a smaller home that I reside in. If the property thats being rented were to go to forclosure, can the lender seiz my other assests to recover thier loss? I'm trying to confirm that the financial affect to me will be limited to an icome tax bill for the forgiven dept and ruined credit score. Could the lender try to take the home I reside in or any other assets?

1 Answer

Answered on: 9/17/13, 8:56 am by Kenneth Love

You should consult a debt relief or bankruptcy attorney. The attorney will need to review your entire financial picture to tell you what is and is not safe.

Did you find this answer helpful?

0 Users found this answer helpful.

0 Attorneys agree with this answer.

Ken Love Law 3410 Healy Drive Winston Salem, NC 27103

Other answers from this attorney

Didn't find what you were looking for? Ask an Attorney!

Get answers from the top Attorneys
Ask Question

115 Answers given in the last few hours.

8662 Active attorneys ready to answer your question

Search Past Answers:
  Advanced Search