can i lose one property if another one is foreclosed on?

Answer 1

If, when you financed the foreclosed property, you put your first property up as surety, then YES, you betcha!

Otherwise, the bank or mortgage company will put the property up for sale, getting as much money for it as they can. If the sale price is more than what is owed to them, they have to give the remaining balance to you. (But be warned, they will come up with all sorts of "handling charges" that will eat up the whole of the difference--chances are you will never see a penny!) If the house sells for less than the outstanding amount owing, you are still liable for the difference.

Answer 2

Usually the only way that you could lose an additional property to a lender that has a property of yours in foreclosure is that if you cross collateralized the property to the same lender.

Now if the properties are financed by two different lenders then only the property going into foreclosure is affected.

So unless you are not making payments on your other property you should be OK

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 3

You haven't given enough information to be definative. If the two properties are tied together in any way then there is a possibility. As an example if you listed the non foreclosed property as colateral then it is definstly in danger.pp

Answer 4

Only if you havent paid the the propery taxes or payments