Posted on: 08th Apr, 2009 04:21 pm
Hello,
I am no longer able to make my loan payments due to hardship. I live in Massachusetts. I invested in land in North Carolina. It is my understanding that N.C. is a deficiency state and the bank (BB&T) has told me they will file a deficiency judgement on me which will last 10 years. My question is this: Massachusetts is a non-deficiency state and that is where I live. My investment was in North Carolina which is a deficiency state. Can the bank BB&T in N.C. sue me for my personal assets (I own two homes) in Massachusetts or garnish my wages? Thank-you very much for any help with this. Things have been tough personally and financially.
I am no longer able to make my loan payments due to hardship. I live in Massachusetts. I invested in land in North Carolina. It is my understanding that N.C. is a deficiency state and the bank (BB&T) has told me they will file a deficiency judgement on me which will last 10 years. My question is this: Massachusetts is a non-deficiency state and that is where I live. My investment was in North Carolina which is a deficiency state. Can the bank BB&T in N.C. sue me for my personal assets (I own two homes) in Massachusetts or garnish my wages? Thank-you very much for any help with this. Things have been tough personally and financially.
Hi prague,
A query similar to yours has been answered in the given link:
http://www.mortgagefit.com/massachusetts/deficiency-judgments.html#87627
Please take a look. I hope it'll help you.
Thanks
A query similar to yours has been answered in the given link:
http://www.mortgagefit.com/massachusetts/deficiency-judgments.html#87627
Please take a look. I hope it'll help you.
Thanks