If you try and hide your assets in anticipation of a judgment, the courts could order everything (including sales) undone to pay the creditor. It may also be a criminal offense. You really need a lawyer and not an RE discussion group member who may or may not be a lawyer. Do you have liability insurance to help defend you? Contact the ins. co. and ask what you need to do. They may help and if you have enough insurance, they may cover the judgment as well.
Hello, due to unforeseen medical and financial problems, one of my homes is going to be foreclosed upon.
I am in Pennsylvania, which allows deficiency judgements. I cannot file bankruptcy right now, or they will liquidate my other houses.
My question is–once there is a deficiency judgemnt after foreclosure–can they lean my other properties? And if yes, how do I shield my other properites–is there a way to save them from being leined? Basically I am looking for a way to protect my other assets so that I may live somewhat normally after the foreclosure.