Monday, March 7, 2011

Your questions about investment property

Thomas asks…i have an investment property to be forclosed in California. can bank come after my primary residene?i can't pay for the investment property mortgage anymore. so it will be forclosed.
can the bank come after my primary residence in california?admin answers:Investment property is full recourse, you have to pay the money back. They can only attach a lien to your house, they can not seize it. They can seize other rentals, your bank accounts, your income tax returns and garnish your wages, but no, they can't seize your primary

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