Can my my condo's trustee from my investment property foreclose my primary home?

Asked about 1 year ago - Boston, MA

I owe condo fees for my investment property.

Attorney answers (2)

  1. Herbert Weinberg

    Pro

    Contributor Level 12

    Answered . The true question appears to me is if any creditor can proceed against your house. Providing you are the only owner and there is lots of equity and a determined creditor the answer is yes. The sale would be through a sheriff and the debtor has a year to buy the property back so it does not happen commonly but it does happen.

    You may wish to be more concerned about garnishment of wages and levy on bank acocunts.

    Good luck

  2. George M. Megaloudis

    Contributor Level 9

    Answered . The short answer is no BUT depending on the circumstances they can get a judgment against you and through that judgement they can go after your home, automobiles, your investments, your wages and anything else that you have of monetary value. If you don't have a homestead on your residence, you should. Also be aware that if there is a mortgage on the investment property- the lender will find out about the non payment. If they do.... They may pay the balance owed then the lender will look to you for payment.

    The answer provided is intended for general informational purposes only and should not be construed as a... more

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