Can I sue on the personal guarantee for a 2nd mort where the corp has filed bankruptcy?
admin | Mar 31, 2010 | Comments 1
I sold my Ranch in 2006 , took back 2nd for approx $600,000.with a personal guarantee Received payments for about 20 months then purchaser’s corporation filed bankruptcy. Believe individual still credit creditable . Can I sue on my annotation?
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Filed Under: Bankruptcy
Clarify the original mortgage, Who holds it, what was the original amout, how much is still owed on it? What is the current value of the the mortgage? Is the 2nd mortgage in the name of the individual or the corporation?