I have to apartments in Miami, FL. The second property is going for forclouser soon, and I am not going to pay the taxes for 2007.
The Lender or the County could take any action agaisnt my first property to get the amount that I borrow them?. It is not any equatity in the forclousure property.
Also I would like to know in how long I could fix my credit after the forclosure.
Thank you for your help!
2007-11-03 18:29:02 · 1 answers · asked by Leonardo D 2 in Business & Finance ➔ Credit
Do you have the same lender for both properties? Could be a problem if there's something that ties them together. Of course, if there's a balance due on the foreclosed home after it's sold, they might get a judgment and put a lien on your second property.
The foreclosure will be on your credit report for 7 years. It will be a very big hit on your score.
2007-11-03 18:38:24 · answer #1 · answered by bdancer222 7 · 0⤊ 0⤋