Legal Question in Real Estate Law in Pennsylvania
Mortgage forclosure
If a mortgage is taken out on a property for remodeling and the person taking it out lives at another residence, then if the loan goes into default, can the mortgage company forclose on the property that the individual lives in rather than the property that was mortgaged?
Asked on 10/06/05, 4:31 pm
1 Answer from Attorneys
Mark Johns
Mark Johns, Esquire
Re: Mortgage forclosure
They cannot foreclosue on the second property. They can however attempt to get a deficiency judgment in the first case and place a lien on the second property.
Answered on 10/06/05, 4:40 pm