Posted on: 07th Aug, 2009 07:42 am
Are 401K, IRA and SEP protected when a deficiency judgment is obtained?Can the mortgage company take the money that I have in these retirements funds or place a lien on them?
Thanks,
Stan
Thanks,
Stan
As far as I know, your retirement accounts and pension plans are protected against any kind of judgments. The lender cannot garnish your pension and retirement account. The lender will not be able to place a lien on them as well.