Re: two houses

Posted by steele in Minnesota on August 27, 2005 at 11:39:34:

In Reply to: two houses posted by jeff squillets on August 26, 2005 at 17:46:20:

: My motherinlaw has tow mortages with the same company. She signed for my sisterinlaw's house and it is in her name. My sisterinlaw is behind 3 payments and soon Countrywide will start foreclosure. My question is can Countrywide take my motherinlaw's house if they don't recoupe all their money? We live in Michigan

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If there was a deficiency judgement the lender could come after her for the money difference. But I don't believe any special claims on her first house.

Nonlegal opinion, of course.

Steele V. Propp
Foreclosure Specialist
Minneapolis, Mn
steelep@aol.com

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Comments:
: : My motherinlaw has tow mortages with the same company. She signed for my sisterinlaw's house and it is in her name. My sisterinlaw is behind 3 payments and soon Countrywide will start foreclosure. My question is can Countrywide take my motherinlaw's house if they don't recoupe all their money? We live in Michigan

: **********************

: If there was a deficiency judgement the lender could come after her for the money difference.  But I don't believe any special claims on her first house.  

: Nonlegal opinion, of course.

: Steele V. Propp
: Foreclosure Specialist
: Minneapolis, Mn
: steelep@aol.com


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