dondos2

Let's say that i was going through a foreclosure on an investment property. Could they possibly seize my paid off vehicle? should i transfer the title to someone else?

Does anyone know where i can search for more info? thanks

LaCostaRacer

I don't believe anyone can take your car to collateralize a debt on a property. The loan for the property is secured by the property itself. Now a lawsuit is a different story where you might be forced to sell property to pay a judgement- a completely different legal issue..

hockeystud

LaCostaRacer is right. If you did not put your car up as collateral for the loan on the house the mortgage company has no right to it.
If you are going through a foreclosure you can file for the original mortgage paperwork. This is a delay tactic that can delay the foreclosure of your house for 10 to 12 months.

phil2

^real scumbag move! Man up and just accept the consequenses

HI OFECR

Knowing absolutely nothing about his situation and telling him to "man up" is kinda shitty don't you think?


Lets try and not kick him while hes down

Blazing GT

gay!

they cannot seize your car.

Mongolian

Creditors cannot attach your vehicle. You are safe.

Fulani has a TL

iTrader: (1)

Depending on how the mortgage was setup, they can take everything from you....

Best way to delay foreclosure, have your mortgagor provide evidence of the note, that will delay it for quite a while....

wackjum

The creditor can only repossess whatever they attached in the security agreement.

For a home mortgage, this is typically the real property. For a business property, it could include fixtures.