FORECLOSURE AND RISK OF LOSING OTHER ASSETS?

I have a property land as an investment and paying half of the payment, I bought it together with a relative. He is not interested in selling the land at this time. If I go into foreclosure will the bank acquire the land in repayment of the remaining balance of the house?

It is generally true that foreclosure of a property is non-recourse: the creditor cannot look to other assets of the debtor to finish repaying the loan, but can only seize the liened property. In California, there is a procedure called judicial foreclosure which WILL let a creditor attach other assets, but it is almost never used: it costs more, takes longer, and defaulting debtors usually don't have significant other assets to seize.