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If you own 2 homes and you foreclose on 1 can they take both homes?
Wiki User
∙ 14y ago
Foreclosure only affects the item listed on the contract, in this case house 1. This does not mean that the bank/lending company cannot file a lawsuit to recoup the losses associated with your foreclosed home from house 2.
Wiki User
∙ 14y ago
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Can you foreclose a mortgage with a copy of the note?
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fleeblgee
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Can you foreclose a mortgage with a copy of the note?
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What if your son holds the deed but you hold the mortgage do you have any rights in the house?
No. Not unless your son defaults on the mortgage. In the case of a default you must make certain the mortgage document contained the right to foreclose and if so then you must foreclose on the mortgage in order to get possession of the property. If you did foreclose your son's title to the property would be transferred to you and he would no longer own it.
