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bsrsharma.
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July 27, 2008 at 11:16 AM #248031July 27, 2008 at 1:25 PM #247827
bsrsharma
ParticipantJuan,
If your loan is recourse loan (as it may be due to multiple re-financings), if you walk away, the lender can come after you for any deficiency. If you have other assets, this will be bad for you. If you are thinking of walking away because you are financially unable to pay (rather than unwilling to pay since it is a loss making investment), you should seek the advice of a good bankruptcy attorney (especially the one who also knows some real estate law).
July 27, 2008 at 1:25 PM #247984bsrsharma
ParticipantJuan,
If your loan is recourse loan (as it may be due to multiple re-financings), if you walk away, the lender can come after you for any deficiency. If you have other assets, this will be bad for you. If you are thinking of walking away because you are financially unable to pay (rather than unwilling to pay since it is a loss making investment), you should seek the advice of a good bankruptcy attorney (especially the one who also knows some real estate law).
July 27, 2008 at 1:25 PM #247988bsrsharma
ParticipantJuan,
If your loan is recourse loan (as it may be due to multiple re-financings), if you walk away, the lender can come after you for any deficiency. If you have other assets, this will be bad for you. If you are thinking of walking away because you are financially unable to pay (rather than unwilling to pay since it is a loss making investment), you should seek the advice of a good bankruptcy attorney (especially the one who also knows some real estate law).
July 27, 2008 at 1:25 PM #248049bsrsharma
ParticipantJuan,
If your loan is recourse loan (as it may be due to multiple re-financings), if you walk away, the lender can come after you for any deficiency. If you have other assets, this will be bad for you. If you are thinking of walking away because you are financially unable to pay (rather than unwilling to pay since it is a loss making investment), you should seek the advice of a good bankruptcy attorney (especially the one who also knows some real estate law).
July 27, 2008 at 1:25 PM #248051bsrsharma
ParticipantJuan,
If your loan is recourse loan (as it may be due to multiple re-financings), if you walk away, the lender can come after you for any deficiency. If you have other assets, this will be bad for you. If you are thinking of walking away because you are financially unable to pay (rather than unwilling to pay since it is a loss making investment), you should seek the advice of a good bankruptcy attorney (especially the one who also knows some real estate law).
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