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. ProppForeclosure SpecialistMinneapolis, Mnsteelep@aol.com
