Judgement against me. Can they go after my wifes assets?

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Icon Mini Profile mystiqman





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Post Posted: Wed May 11, 2011 4:28 pm    Post subject: Judgement against me. Can they go after my wifes assets?
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State of Florida. I defaulted after losing my job and spending my savings to attempt to stay in house. I have no assets. Primary lender foreclosed and was paid in full. The holder of the second mortgage has now filed a judgement against me for $152,000 . The primary loan and HELOC were in my name only. After the judgement was obtained in January my wife received title to a home through the will of her deceased father. The house is being transferred into her name only. Will this asset be at risk due to the judgment against me?

Sorry this was posted in the wrong forum initially.
Icon Mini Profile chrisgummerson
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Post Posted: Wed May 11, 2011 4:31 pm    Post subject:
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I believe that in Florida the creditors have a right to the judgement for up to 20 years. I dont know the laws in your state, but I would contact a RE attorney asap. Find one that will give you a free consultation and if you do need his service, you can decide then. You might also want to contact a title company to see if filing a Homestead Exemption would help you. Homesteads are to protect a real property from collections of other debts.
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Icon Mini Profile smithsussane
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Post Posted: Wed May 11, 2011 9:55 pm    Post subject:
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Hi mystiqman!

Welcome to forums!

If your wife is not on the second mortgage, then the lender won't be able to go after your wife's assets in order to recover their dues. You will be liable for paying the dues solely.

Feel free to ask if you've further queries.

Sussane
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