Colli Real Estate

ONCE THE PROPERTY HAS SOLD AT SHERIFFS SALE FOR A LOT LESS THAN OWED, CAN THEY LIEN MY CURRENT HOME?

I own and live in a home in GA. the foreclosure is a condo in FL. when my tenant stopped paying rent I couldn’t make the payments. It goes for sale next month. I am sure it won’t sell for what is owed. I need to know what will happen. I live on social security.

Yes, since it is an investment property they can come after you for the deficient amount. They can lien any property, seize any bank funds, but they can’t garnish your income if SSI is all that you have.

This is not handled the same as it would be if your home was foreclosed on. You were given money to invest, and you will need to repay it. They may have to wait and take it from your estate, but they are entitled to be repaid.

Stop Foreclosure – Dalton Georgia – Bankruptcy Attorney

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