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Old 08-04-2007, 10:39 AM
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Question

Foreclosure

What is the name of your state? FL

I had an investment property that the lender is now defaulting on the loan, because the builder has not taken the draws during the specified time frame. The lender is now defaulting on the loan and wants the 78,000 dllrs now, and will not accept a payment plan. Since i do not have all the money the are going to foreclose.

My question is that, I just sold my home and made 30k on it, can they go after it? Can they go after the car I just paid off? Can they go after a rental property I have? The property is not paid yet and I owe a lot on it. What can they go after?The 30 k I plan on using is toward my next home.


PLEASE HELP>
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Old 08-04-2007, 10:14 PM
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Join Date: Nov 2005
Location: South Cackalacky
Posts: 14,795
You're going to eventually have a large judgment on your credit report. You will have a hard time financing anything major at that point.
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