Re: I really need some advice
You didn't say what state you are in, but in CA, this is how it works...
Any judgements by wiped-off lienholders are filed first in the county where the foreclosed property is located. If the plaintiff discovers other assets in that county, they will have good reason to pursue you for the balance due on your note.
DIL usually requires that you have a positive equity position in the property.
Any credit repair company(perjorative intended) that makes that type of claim should be reported to the BBB and have their company and principals investigated.
Foreclosures and Bk run their course on your credit report and make borrowing and obtaining credit much harder for several years following the Trustee/Sheriff sale or dismissal of the BK.
Any claims by a "credit repair" company to the contrary are just simply nonsense.
BTW, Ch 7 is intended as liquidation of assets - this means all assets including your other properties.
Good Luck
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- Re: I really need some advice - Brian Korte 20:08:24 12/12/07
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