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Updated about 5 years ago on . Most recent reply presented by

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Eric Nunez
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Deficiency judgement from property bought in LLC - help!

Eric Nunez
Posted

Hi guys - I'm a new investor and purchased a property in my LLC with a promissory note. It was a short term loan and I ended up defaulting and the lender foreclosed.

Now they're pursuing me for a deficiency judgement, my LLC and my name. I have another property I was trying to sell and it's in my personal name and I was wondering if they can force sale on this property or place a lien on this?

I also have another company that’s unrelated to real estate that I’m wondering if they can seize my money in that bank account? The bank account is a business bank account not related to the purchase of the foreclosed property. 

Any insight is so much appreciated.

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