OH, debt settlement while owning rental houses?
Date: Mon, 01/25/2010 - 23:15
Does anyone know from the state of Ohio, if you own rental properties, and you start a debt settlement plan, can they sue you and put your rental houses in foreclosure?
Creditors can sue anyone at anytime, including those in a debt s
Creditors can sue anyone at anytime, including those in a debt settlement plans. They will look for assets and lien them. However, unless the courts decide to liquidate your property, they will not force you to sell them.
Quote:Originally Posted by Linda RiveraDoes anyone know from the
Quote:
Originally Posted by Linda Rivera Does anyone know from the state of Ohio, if you own rental properties, and you start a debt settlement plan, can they sue you and put your rental houses in foreclosure? |
The creditor or the collection agency can sue you when you have defaulted on a loan.
You can be sued by the creditor even when you're in a settlement program if the settlement negotiation fails. However, the creditor isn't likely to foreclose the home if there isn't enough equity on the property to satisfy the lien.
