If my rental home goes into foreclosure, can the bank put a lien on my primary home?
If there is a deficiency judgement, meaning that he house sold for less than the mortgage and that there was money still owed to the bank after the foreclosure sale, the bank can enter a judgement and try and collect from you. So yes, the bank can go after your other assets. They can put a line on property owed, garnish your salary, etc. It is in your best interest not to have that happen. Is it possible for you to sell the rental property yourself in a short sale with bank approval? That means that the bank approves the sale and may agree to waive any deficiency. You can also ask about a deed in lieu of foreclosure (deeding the house back to the bank before they go through the formal foreclosure process) and ask for a waiver of deficiency. Seek help. Good luck.