Guru
I am going thru rough time and not able to pay my mortgage on investement property which is on my name and tiltle is on both my name and my wife name. I called the bank they told me to send a letter and also my income expenditue. I also own Primary home good with payments.
Going fwd if foreclosure happens will my wife liable for any repayments.
Will the bank post lien on my primary residence.
you have to check the law in the state in which the property is located and if they were purchase money or non-purchase money mortgages.
In CA if they we purchase money, the asset secured by the mortgage/deed of trust is all that is pledged as collateral.
Community property may come into play.