2007-11-28 04:24:28 · 5 answers · asked by Bradley 1 in Business & Finance ➔ Renting & Real Estate
NO.
2007-11-28 04:29:51 · answer #1 · answered by Johnny A 5 · 0⤊ 0⤋
Yes they do. However, there are laws in each state that limit what they can get. Each state has different laws. Check with an attorney. He or she should be able to answer at no cost to you. Be sure to close any joint accounts as the other person on the account could lose their money to your creditors.
If anyone co-signed your loan, they are liable for anything that you owe your creditors [lenders, in this case].
In some states, they may not take your car. In others, they can.
2007-11-28 12:31:02 · answer #2 · answered by apolloesc 1 · 0⤊ 0⤋
You need professional advice. Please contact an attorney to give you the accurate information for your state. Some of the issues are if you are referring to the first or second mortgage for each of them have different rules, senior vs junior liens. Also depends on whether or not you signed a promissory note, did a short sale, or declared bankruptcy. So, please find a reputable person in your area or contact a local consumer credit counseling service that does not charge for the service. Good Luck!
2007-11-28 12:39:19 · answer #3 · answered by Christiane 3 · 0⤊ 0⤋
Hunny, no. Usually when you go into foreclose the lenders takes the home back and then sells it at auction.
2007-11-28 12:33:06 · answer #4 · answered by eeyore6838 5 · 0⤊ 0⤋
In some states yes and some states no. Get legal advice.
2007-11-28 12:41:26 · answer #5 · answered by Anonymous · 0⤊ 0⤋
depends on the mortgage terms and relevant laws.
google will find the laws you need -- search [location], mortgage, foreclosure, deficiency
2007-11-28 12:30:34 · answer #6 · answered by Spock (rhp) 7 · 1⤊ 0⤋