Legal Question in Real Estate Law in Pennsylvania
I have a home with my ex wife which is going to go into foreclosure. Can the mortgage company come after my new home with my new wife for any shortfalls?
1 Answer from Attorneys
In the event the mortgage company forecloses and is unable to receive full payment for the amount owed to them, they have the ability to obtain a deficiency judgement against you and your ex wife. They may of course do nothing or If they get such judgement they can go after assets you each own in you own name. Of course you would be served notice of the action and would have the right to contest the amount claimed or other defenses you may have. it may be best to review your particular situation with an attorney as each case may be different based on certain pertinent facts which are unavailable to me.