[Mystery Man]

investment property? Hello,

I'm going thru foreclosure on my primary property but I own investment property.. My rate went up on my home loan and I can't afford to pay for it anymore.. I tried to do a short sale but the bank to so long that the buyer bought another property..

My question is if I file for bankruptcy 13 can they take my investment property away because my primary home is being foreclosed on... I refinanced 3 years ago but was lied to by a loan agent saying we will refi before the rate went up but when it came down to it.. the home is not worth what I owe and now I'm screwed... I'm thinking about filing for bankruptcy but I'm scared they will come after my investment property... what shoul I do.. please advice...
I want to keep my investment property, I don't care about my primary residence.
I live in California

[lisannem]

You need to speak with a bankruptcy attorney. Is the investment property occupied? Can you move into your investment property? If that can be done then, the investment will be considered owner occupied.

Also your loan officer didn't lie to you. He had no way of knowing that your property value would decline or that the lending environment would get so restrictive.

Lisanne Jordan