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Guest

We have an FHA loan for 135k with US bank. Our mortgage is going into foreclosure. We live in Michigan and I am wondering if they can come after to garnish wages etc.. for deficencys? Thank You! Our house would maybe sell for 60K.

jameshogg · Posted: Tue Mar 09, 2010 8:36 pm Post subject:

Hi Guest,

Deficiency judgments are permitted in Michigan. Thus, after the foreclosure sale is over, the lender will sue you for the deficient balance. If you are unable to pay it off, then the lender can garnish your wages or your savings account. However, in order to do so, the lender will have to file a lawsuit against you and get a judgment.

Thanks

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being sued in michigan for foreclosure?