josh s asked:


If you have a upside down loan on a house then get another loan on a new house then try to short sale will the banks get mad and try to go after your assets or try to make you pay back the difference on the first loan?

Parthenia

3 Responses to “If you have a loan on a house then get another loan then forecloses the old loan can the bank go after u asets”

1. candleinthewind7579 on February 26th, 2009 4:39 am

   Most likely they will

2. breakznjungle on February 26th, 2009 8:40 pm

   If there is a lien on the property and you don’t pay up then yes.

3. roderick_young on February 28th, 2009 12:56 pm

   That sounds like a horribly irresponsible thing to do, and it would totally ruin your credit.

   I’m sure the bank would go after you for the difference, besides.