Land Foreclosure
Posted by Sucker on February 24, 2008 at 17:43:31:
I purchased two investment properties (lot/land)in NC just over a year ago and now I can't afford them anymore, lost my job. If I foreclose on them, could they come after my homestead or any of my assets? I can still pay my mortgage on my primary residence. What happens to the taxes due on the lots? Do I still have to pay those? And the HOA payments? I am totally freaking out right now! I had excellent credit going into this and now I have ruined myself. If the bank can sell them for what I owe and not have to pay any differences, how long does this reflect on my credit? If you know anyone that is interested in two lots off the innercoastal water way in NC let me know. It has a 50 slip marina!
Follow Ups:
- Re: Land Foreclosure - Julio Martinez-Clark 11:00:50 02/25/08
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