Can the 2nd mortgage company sue me for deficiency upon foreclosure?
Submitted by admin on March 11, 2009 – 1:11 pmOne Comment
I am in the process of foreclosing my house along with 2 rental homes in AZ. I understand that the anti deficiency law protects my assets. However, can and will the 2nd mortgage company sue me or put a lien on my other property/asset for the deficiency? Is there anyway to protect myself?
It's simple if you don't make the payments, they will foreclose. If you signed a promissory note, they could come after you in the form of a filing to the IRS for the balance owned. I suggest you talk with a bankruptcy attorney.
It's simple if you don't make the payments, they will foreclose. If you signed a promissory note, they could come after you in the form of a filing to the IRS for the balance owned. I suggest you talk with a bankruptcy attorney.
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