2007-07-23 11:03:36 · 6 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
If you have a mortgage, there is already a lien on your home. It will still take priority over any lien another creditor secures. The court would have to approve any lien placed by any creditor on any property.
2007-07-23 11:34:51 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋
Your home will be forclosed on by the lending institution, creditors of course will place a lien on your property so they can be paid with the proceeds of the sale of the home.
2007-07-23 11:08:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋
He could talk to a financial ruin lawyer to make certain if submitting will reason him to lose his dwelling house. if so, then the debt would be repaid from the proceeds of the sale. If he can record and save his dwelling house, then it particularly is nevertheless a criminal question as to if or no longer the debt could be discharged. some expenses can, and a few won't be able to, reckoning on state rules.
2016-10-09 07:33:22 · answer #3 · answered by nicholls 4 · 0⤊ 0⤋
Well your home will be foreclosed on and any other creditors will put liens on your home so they can get paid when your mortgage company sells it.
2007-07-23 11:11:49 · answer #4 · answered by ? 7 · 0⤊ 0⤋
yes, but I'd be worried about a repo if you can't make the payments
2007-07-23 11:08:46 · answer #5 · answered by whata waste 7 · 0⤊ 1⤋
yes, or worse.... repo'd....
2007-07-23 16:39:11 · answer #6 · answered by prprincess 4 · 0⤊ 0⤋