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I have 2 properties (1 investment housed & 1 investment lot) that I am being foreclosed upon in Calif. One has a personal guarantee to my LLC (other person in the LLC passed away). I have a separate 25 yr. old contracting business that is a c corp.
Questions:
1. Can the bank immediately freeze any of my personal, llc or contracting corp. bank accounts or assets upon filing a deficiency notice or other claims? How long would this take?
2. In a personal guarantee deficiency & or foreclosure, can the lender go after finds in my contracting business. IN other words can I still do business?
3. If I file personal bankruptcy, how is my small contracting busess corp. affected?
Thank you for the help!