Home » Mortgage Loan » I want to foreclose or short sell my main residence. Will the bank go after my 2 investment properties?

I want to foreclose or short sell my main residence. Will the bank go after my 2 investment properties?

On my main residence, I have a 6.5% interest only mortgage with Wells Fargo. My mortgage rate will jump up 2% in a year from now, and that will make it impossible for me to pay for my mortgage.

I get the same relief from investment… I bought a principal residence with FHA loans in February 2009, but recently moved for work (by the state). My parents live (free rent) in the apartment and I did not pretend tenant poMaintenant refinance…
What constitutes a primary residence? I have lived in my town house for the past 4 years. I am considering buying a new home and renting my townhouse out. If i cant find a suitable renter or if my renter…
my main home has 6 acre field with… private residence relief on sale? i would ideally sell the field with the house,,but would that affect the relief cgt,,,,,ive inherited it and was valued all together,,any ideas please,, also is there any time limit…

I tried to do a loan modification under the HAMP program but it was refused since they caught that I had 2 investment properties with equity on them…

Now, if I decide to foreclose or short sell my home, will the bank go after my investment properties?

How can I protect myself better?
I live in California, that’s a non recourse state.
Could I transfer the titles of my investment properties to someone else? Maybe my wife’s corporation?
How about transferring the titles of my investment properties to family members, such as my inlaws?

Related Articles
Random Questions
  • 1st time using EMV at Walmart tonight!
    So, Im checking out with my Venture card, swipe it, and the register beeps, I swipe it again, it beeps ( terrible thoughts started going thru my head immediately, and I was ready to take …
  • Debt Validation Letter to ENHANCED Credit Recovery
    This particular tradeline on my credit from CA Enhanced Credit recovery is hurting my score so bad and it is only for $ 614 and this is for a sprint account that I had about …
  • Debt Recalled?
    So I have been going back and forth wtih this CA Penn Credit. They were collecting on an old Dominion Power account from 2012. I paid Dominion directly back in January since I had to …
  • Capital One Declined
    Interesting as many of you know a few months back Capital One had locked my accounts for “security concerns” and in the end closed my personal QS but re-opened my 2 Spark Business Cards because …
  • All accounts are paid and current, How can I raise my poor credit score?
    I recently had all of my accounts in collections removed, which has raised my score from 535 to about 590. I would like to further increase my score however I don’t know what else I …
Random Posts
Random Topics
Register New Account
Reset Password