Legal Question in Real Estate Law in Pennsylvania

Own 2 houses, can only afford 1

My daughter & son-in-law bought a 2nd home before selling their 1st one. They have not sold the 1st yet and they are overwhelmed with the financial burden, they are late on the mortgage (by 8 days),taxes are overdue & now their home owners is up & they need money to find a new policy. What can they do? If they foreclose on the 1st house can they come after the 2nd even though they're current on that mortgage(they have 2 separate mortgages but from the same lender). Any advise would be greatly appreciated.

Thank you.


Asked on 6/09/04, 8:03 am

1 Answer from Attorneys
Michael Kuldiner Law Offices of Michael Kuldiner, P.C.

Re: Own 2 houses, can only afford 1

They should sell their first house immediately, foreclosure is usually not the way to go. If the do end up foreclosing on the first house, it will not affect the mortgage or any of the finances of the second home.

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Answered on 6/09/04, 9:06 am


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