QUESTION
May possibly have to have a foreclosure for my Condos in TX. Want know if my home and assets will be safe
Asked on Jan 08th, 2022 on Litigation - Texas
More details to this question:
Due to Covid in 2020 and 2021 I've lost half my tenants - Probably a quarter of a million in income - Property value dropped in half - Had to hire new Mgt. that has ripped me off, having to spend $45K out of pocket. - Insurance to increase my mortgage from $18K to $26K a month.- Taxes in Odessa have quadruple in the last 3yrs. - Can't continue in the negative any longer. - Before Covid we were nearly 100% full for over a decade.
1 ANSWER
2 Awards
It is difficult to answer this question without significantly more details. Generally, your home cannot be taken to pay a debt (exceptions, of course, apply). For your other assets, it is harder to give an answer based on the information you have provided.
Answered on Jan 24th, 2022 at 12:17 AM