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My lender is palnning to file a deficiency judgement on my foreclosed home. Can the lender take money from my personal bank account for the deficiency owed? How can I avoid the lender coming after my cash assetts?

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File Chapter 13

Posted: Mon Mar 08, 2010 8:24 pm Post subject:

i cant file chapter 13. i have cash, car paid for and no other bills.

sara · Posted: Tue Mar 09, 2010 2:28 am Post subject:

Hi rmn,

If you are unable to pay off the deficient balance to the lender, then he will be able to garnish your savings account in order to recover his dues. You can negotiate with your lender for a payment plan which will make it affordable for you to pay off the loan. You can even negotiate with your lender and check out if he can forgive your balance amount.

Take care.

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deficiency jusgement