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Hello,
I had a question about foreclosure and consequences. If I have 2 other properties (house) and I foreclose on a property, can the bank sue and take the other property (house)? The property that my foreclose does not have any collateral to the other properties. Wanted to know if the bank can go after the other property even though there is no collateral to the other property.
Thanks
Not a lawyer so take it for what it is
Free advise over the internet
It seems to me they would have to take you to court and get a lien against the other property and then they have to get in line - meaning their position would not jump ahead of the current mortgage
In some states they cannot do this but again I am not a lawyer and only know they cant do this in CA