My fiance owns a business that is failing (perhaps in Feb) and will owe the bank approx 100,000 which was a small business loan which was leveraged against the equity his condo. Can someone tell me what will happen to the condo? Do they reposess it for what the bank estimates it to be worth? Do we get to keep it and he just works and gets his wages garnished? Should we sell it really quick and pay off the loan?(not very possible) Were hoping he gets enough customers this month to hold him out for 6 more months, but just incase Im wanting to know. Thanks so much!!!
      Answer1:I really honestly think that he is going to loose the house. There going to use that to put towards the business that failed. Good luck, I really hope that doesnt happen.
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