Foreclosure

In addition to having the properties as collateral for payment of the underlying debts, so long as they comply with state law regulating actions for deficiency judgments, they can ask for a judgment for the difference between the total due and what they realize on the property. Once they get that judgment, they can then levy on other assets of yours.

You need to speak to a knowledgable local attorney, who is highly experienced in foreclosure defense. The National Association of Consumer Advocates (NACA) is a non-profit consumer advocacy organization. NACA maintains a web site at www.naca.net where it lists geographically consumer law attorneys all over the US. If you don't already have an attorney, please look there for someone in your area who specializes in foreclosure defense to review the details with you and advise you.