Foreclosure in 33126>Question Details

Roger, Home Buyer in 33116

I might go into foreclosure. I have a 15 year old car and a few hundred in my savings,

Asked by Roger, 33116 Sat Mar 21, 2009

can the bank take that from me? (i lost my job so i have zero income to save my condo)

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Depends on the state you live in. If you are in a state where the lender can collect against the deficiency they can get a court order to take away assets and take money from your bank account. What I recommend doing is calling a Realtor to do a short sale. In almost all short sales the bank will forgive the balance owed to them and sometimes pay you money to do a short sale.
0 votes Thank Flag Link Fri Dec 20, 2013
The lender cannot take those possessions from you. They can, however, take the property itself.
0 votes Thank Flag Link Wed Mar 25, 2009
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