Legal Question in Bankruptcy in Nevada
two homes from same lender
Is it possible to foreclose on one property and yet keep the other without the same lending company calling the loan on the one you would like to pay on?
Asked on 10/13/07, 10:47 pm
1 Answer from Attorneys
James Smith
James E. Smith Ltd.
Re: two homes from same lender
Each contract is different and separate. You would have to be in breach of each contract to be foreclosed upon, unless there is a provision cross-collateralizing both properties into each note or deed of trust.
Answered on 10/14/07, 12:33 pm
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