Foreclosure by my H.M.L.

Can anyone tell me if my hard money lender can foreclosure on my property? I have 2 properties that he’s cross-collateraled and lent me money on. Unfortunately I’m having trouble making his monthly payments and he’s threatening to foreclose on both my properties.

I was told by 1 title company that only the first lender can foreclose on my properties. I’m still not sure so if anyone has experience with this I’d really appreciate it because I’m extremely worried… :shocked

You need to consult with a real estate attorney. Have the attorney review the Note and the Deed of trust. They will be able to give you better advice once they have seen the lenders documents.

Great idea. Thanks for your advice Chris.