I have a house in Florida that I have defaulted on the loan and it going into forclosure. I know my credit is going to suffer but I am worried about my house in Maryland. Can the creditors come after my assets in Maryland?
Answer
You can be held liable for a deficiency judgment in FL for the difference between what you owe and what they foreclose for. Whether they can take your MD house will depend on how it is titled and whether you have non-exempt equity. You should discuss your specific details with an experienced bankruptcy lawyer practicing in MD (whether myself or someone else). Even if you are not contemplating bankruptcy, a bankruptcy lawyer will be most familiar with your available options.
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