top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

Same bank holds mortgages on two properties? what will happen?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Same bank holds mortgages on two properties? what will happen?

    I have two properties with two mortages each. The 2nd mortage on the 1st property is held by the same bank which holds BOTH mortages on the 2nd property.

    Property 1
    1st Mortage - Bank A
    2nd Mortage - Bank B

    Property 2
    1st Mortage - Bank B
    2nd Mortage - Bank B

    If I file Chapter 7 and want to keep Property 2, what would happen? Bank B would have lost out on the first property but still hold mortages on the second property I intend to keep. Is this possible to pull off?

bottom Ad Widget

Collapse
Working...
X