We consigned on our sons mortgage. If they let that go into foreclosure, can the bank put a lien on our home?
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We consigned on our sons mortgage. If they let that go into foreclosure, can the bank put a lien on our home?
General question
Asked on May 30, 2016 under Real Estate Law, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
The bank cannot directly out a lien on your home. But if, in addition to or instead of foreclosing, the bank sues you for the money and gets a court judgement against you, if you then don't pay, they could at that point put a lien on your home as part of the collections process.
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