Posted by admin | Posted in vacation rentals | Posted on 09-03-2010
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If we have to foreclose on our house would the bank be able to take our vacation property?
I live in Michigan.
My husband lost his job a year ago and we aren’t sure how much longer his unemployment will last. The bank says we can’t do one kind of modification because we can’t show his unemployment will last 9 months.
We have a vacation property with a small cabin on it, if we loose the house to foreclosure what will happen to the cabin?
We have a first and second mortgage on the house. We did not list the vacation property on any of the loan documents for the house.
Thanks for your help
Take? No.
Lien against? Yes.
Lake Tahoe Vacation