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jama · Joined: 11 Dec 2009 Posts: 1 1.28 Dollars($)

I have a condo in miami, value is way under, no good business to keep it.

However I do have somo money in US banks, can I loose this money after all the foreclosure procedure

I am a foreigner, do not have a socila security numero, the amount of the mortgage is 390 000 k

jenkin7 · Posted: Thu Dec 17, 2009 11:27 pm Post subject:

Hi jama,

If there remains any deficiency from the sale of the property, the lender can come after you. They can get a deficiency judgment against you and garnish your wages or go after your personal assets, bank accounts, except certain things like retirement accounts, etc. But these are the last things that a lender wants to do. Generally, lenders do not want to go after your personal assets, but they do have the right to go after them if they have a deficiency judgment against you.

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If I go foreclosure and have cash in bank, can I loose this money+