Comments on: If your home goes to foreclosure, can the bank place leans on your bank accounts? http://www.jjrealestatebg.com/usa-real-estate/if-your-home-goes-to-foreclosure-can-the-bank-place-leans-on-your-bank-accounts Pure Real Estate Sat, 31 Jul 2010 17:14:20 +0000 http://wordpress.org/?v=2.7 hourly 1 By: foreclosurefish_com http://www.jjrealestatebg.com/usa-real-estate/if-your-home-goes-to-foreclosure-can-the-bank-place-leans-on-your-bank-accounts/comment-page-1#comment-997 foreclosurefish_com Thu, 22 Jan 2009 19:26:12 +0000 http://www.jjrealestatebg.com/usa-real-estate/if-your-home-goes-to-foreclosure-can-the-bank-place-leans-on-your-bank-accounts#comment-997 If you give the property back to the bank through a deed in lieu of foreclosure, like you seem to be talking about, the bank can not attach your bank accounts, garnish your wages, or do anything else. By accepting a deed in lieu of foreclosure, the bank accepts the property as payment in full of the loan. They take ownership of the property (deed) instead of (in lieu of) taking the property through the court process to sell it at a public auction (foreclosure). So, there is nothing else they can take after giving the deed in lieu. Hope that helps. ForeclosureFish If you give the property back to the bank through a deed in lieu of foreclosure, like you seem to be talking about, the bank can not attach your bank accounts, garnish your wages, or do anything else.

By accepting a deed in lieu of foreclosure, the bank accepts the property as payment in full of the loan. They take ownership of the property (deed) instead of (in lieu of) taking the property through the court process to sell it at a public auction (foreclosure).

So, there is nothing else they can take after giving the deed in lieu.

Hope that helps.
ForeclosureFish

]]> By: wareagle30 http://www.jjrealestatebg.com/usa-real-estate/if-your-home-goes-to-foreclosure-can-the-bank-place-leans-on-your-bank-accounts/comment-page-1#comment-996 wareagle30 Wed, 21 Jan 2009 22:19:37 +0000 http://www.jjrealestatebg.com/usa-real-estate/if-your-home-goes-to-foreclosure-can-the-bank-place-leans-on-your-bank-accounts#comment-996 if you live in florida there isnt much available in the form of post judgment executions. they cant attach your bank accounts for the foreclosure but if they file suit for the deficiency balance after wards and obtain judgment they can then issue a court order to attach your bank accounts if you live in florida there isnt much available in the form of post judgment executions.

they cant attach your bank accounts for the foreclosure but if they file suit for the deficiency balance after wards and obtain judgment they can then issue a court order to attach your bank accounts

]]> By: MLaw http://www.jjrealestatebg.com/usa-real-estate/if-your-home-goes-to-foreclosure-can-the-bank-place-leans-on-your-bank-accounts/comment-page-1#comment-995 MLaw Wed, 21 Jan 2009 13:49:24 +0000 http://www.jjrealestatebg.com/usa-real-estate/if-your-home-goes-to-foreclosure-can-the-bank-place-leans-on-your-bank-accounts#comment-995 If there is a deficiency the bank can seek a judgment against you for that amount. Judgment creditors' liens apply only to physical property. They "levy" on bank accounts; meaning the court will order the bank to turn over ALL the $$ until the judgment is paid. Florida has certain exemptions on asset levies. You should see an attorney to protect yourself. If there is a deficiency the bank can seek a judgment against you for that amount. Judgment creditors’ liens apply only to physical property. They “levy” on bank accounts; meaning the court will order the bank to turn over ALL the $$ until the judgment is paid. Florida has certain exemptions on asset levies. You should see an attorney to protect yourself.

]]> By: loslunas87031 http://www.jjrealestatebg.com/usa-real-estate/if-your-home-goes-to-foreclosure-can-the-bank-place-leans-on-your-bank-accounts/comment-page-1#comment-994 loslunas87031 Tue, 20 Jan 2009 10:15:02 +0000 http://www.jjrealestatebg.com/usa-real-estate/if-your-home-goes-to-foreclosure-can-the-bank-place-leans-on-your-bank-accounts#comment-994 maybe.. you need to read your mortgage agreement on collateral, there may possibly be a clause of any monies on account with the bank. If you do not understand it get advice of a attorney to make sure that is your best option. maybe.. you need to read your mortgage agreement on collateral, there may possibly be a clause of any monies on account with the bank. If you do not understand it get advice of a attorney to make sure that is your best option.

]]> By: Luke 6:37 http://www.jjrealestatebg.com/usa-real-estate/if-your-home-goes-to-foreclosure-can-the-bank-place-leans-on-your-bank-accounts/comment-page-1#comment-993 Luke 6:37 Sat, 17 Jan 2009 01:43:53 +0000 http://www.jjrealestatebg.com/usa-real-estate/if-your-home-goes-to-foreclosure-can-the-bank-place-leans-on-your-bank-accounts#comment-993 No, they hold collateral (the home). They are not entitled to raid your bank account. However, if they auction it for a loss then they can come after you for the difference and get your wages garnished by court order. However if this is FHA then they already receive mortgage insurance to cover losses. No, they hold collateral (the home). They are not entitled to raid your bank account. However, if they auction it for a loss then they can come after you for the difference and get your wages garnished by court order. However if this is FHA then they already receive mortgage insurance to cover losses.

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