My 2nd property in las Vegas is going through foreclosure. I have my primary residence in California. Now, I kept getting letters from the 2nd mortgage(not the original lender) and attempting to collect the debt. My salary is just enough for the primary house though I have a husband who has income as well. I owned both properties prior to marriage. What's the worst thing the lender can do to me? Will my primary house be affected? And what about my husband's, will he also be affected.?pls. Advise.thanks
Your husband is not liable for your debt on the 2nd property as it was your separate property debt. 2nd mortgage is an unsecured creditor. They can ding your credit and they can sue you. If they get a judgment against you they can collect by seizing your separate property or community property, but only as to your interest in the community. The creditor can record a lien against your primary residence by using an Abstract of Judgment if they get a judgment against you.