Compare Mortgage Quotes

Posted: Fri Apr 09, 2010 9:23 am Post subject: 401K, foreclosure, short sale

I live in Michigan, if my house goes into foreclosure, or I sell my house as a short sale, can the mortgage company make me cash in my 401K to pay off the difference.

jameshogg · Posted: Fri Apr 09, 2010 10:55 pm Post subject:

Hi Guest,

As far as I know, the lender will not be able to garnish your 401k account in order to recover the dues. However, if you have a savings account, then the lender will be able to garnish it.

Thanks

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

401K, foreclosure, short sale