Debt and Bankruptcy
Debt Collection

When a foreclosure occurs and the lender is unable to sell the property for what's owed can they seize other assets from you such as savings acc ounts or rental property?

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Wiki User
August 19, 2008 1:21PM

Your mortgage company does not have the right to seize anything. They do have the right to go through a legal process and sue you for the balance. They may place a lien on other property you own, choose to garnish wages or a variety of other methods to collect. They are not able to seize.