Investment Property Foreclosure

[lovecures]

What is the name of your state (only U.S. law)? I am in NY State. I own an rental property which is a single-family home. Right now I have not tenant and I am unable to continue paying the mortgage. I am concerned about the rights. I own a co-operative in which I live. And I have a small IRA. Will I be forced to liquidate these assets to satisfy payments for the rental property?

I am willing to sell the property. I know the market is horrible right now. Please give me a little advice.

 

[HomeGuru]

What is the name of your state (only U.S. law)? I am in NY State. I own an rental property which is a single-family home. Right now I have not tenant and I am unable to continue paying the mortgage. I am concerned about the rights. I own a co-operative in which I live. And I have a small IRA. Will I be forced to liquidate these assets to satisfy payments for the rental property?

I am willing to sell the property. I know the market is horrible right now. Please give me a little advice.

**A: what kind of advice are you looking for? You have numerous issues.

 

[lovecures]

I am concerned about my rights in my situation. I want to know how to protect other assets not associated with my rental property.

Thanks for inquiring.

 

[HomeGuru]

I am concerned about my rights in my situation. I want to know how to protect other assets not associated with my rental property.

Thanks for inquiring.

**A: this is a real estate law forum not a how to hide your assets from creditors forum.