home is in colorado
Real Estate Attorney
Not immediately. First they would have to sue you for a deficiency, if there is one. If a deficiency judgment is issued they may try to go after other assets, but certain assets would be exempt. If that is a possibility, you should see a bankruptcy attorney.
1 lawyer agrees
If you live in Las Vegas and the creditor gets a judgment against you in Colorado, they'll need to enforce the judgment in Nevada if they want to try to take your cars. Nevada exemptions provide for protection up to $15k in equity in one car (two if you are married.)
Take a look at NRS 21.090.
WIlliam Devine, II
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Chapter 11 Bankruptcy Attorney
Some states issue a "deficiency judgment" after auction; in others, the creditor have to sue separately. In some, it isn't possible, at least for primary residences. This will depend upon Colorado law.
Depending upon the note terms, you might be sued either here or there, or the Colorado judgment can be filed here.
Our vehicle exemptions are generous ($15k/person), and you can also file bankrutpcy.