Legal Question in Real Estate Law in Maryland
foreclosure on 1 of 2 properties
I am going thru a divorice in PA. We own a home in PA which is going to foreclosure. I own a second home in Maryland which I plan to move in to. It is solely in my name and I owned it prior to the marriage. Can the bank which foreclosed on our house in PA force the sale of my house in Maryland?
2 Answers from Attorneys
Re: foreclosure on 1 of 2 properties
No. Typically in a foreclosure the "sale" price is whatever is due on the loan, plus foreclosure costs. So it wipes out the debt owed to the lender. However, if someone got a money judgment against you, they could collect on that judgment by forcing a sheriff's sale of your Md property.
Re: foreclosure on 1 of 2 properties
Your situation requires legal representation.
Without knowing all other details of your marriage I cannot provide alternatives or a course of legal action.
Will the divorce action be filed in Pa or Md? This has alot to do with your question.
Respective property valuation is something we should discuss.
Contact me.
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