I have a deficientcy against me for a balance remaining after a deed in lieu of foreclosure from Mi.
My checking acc. Was garnished of every penny BEFORE a judgement was entered. In TX. They can and will do it.

{MOD note: posted to an old thread and moved to its own}

I have a deficientcy against me for a balance remaining after a deed in lieu of forclosure from Mi.
My checking acc. was garnished of every penny BEFORE a judgement was entered. in TX. They can and will do it.


Was your account located at the bank that held the mortgage? If so, that's something different than what has been posted as the question here.

JudyKayTee

No,
The mortgage was in Mi. my account is in TX. I am just now entering the judgement phase (6 months. After the account garnishment)

JudyKayTee

No,
The mortgage was in Mi. my account is in TX. I am just now entering the judgement phase (6 mos. after the account garnishment)



Wow - in theory (and by law) this is not possible. Can you get a copy of whatever was served on your bank to empty your account? That would be helpful.

You must be stunned!

It's hard to be stunned by anything anymore.
I tied to do the "right thing". When the job market crashed in Mi. we picked up and moved to TX. We tried to keep up with the Mortgage while trying to sell for 6 months.. On top of rent in TX. We just couldn't keep up.
So, we tried to work with the Credit Union to come to a reasonable solution (we had already sold everything to satisfy all other debt with them and others) knowing that a Deed in Lieu is easier and saves cost for the lender. After the paperwork went through they came after the full amount plus cost for work they did on the house (their house at this point) that we were never notified of much less approved. After coming to a forbearence agreement we were 10 days late on our 6th payment (this payment is financially killing us) we are back to the summons for a judgement, of course we can't defend ourselves because I can't afford to travel to Mi. for court... I could go on forever. This probably terrible legal advice, but, don't try and do the right thing, make it a business decision, period.
Also, please note that this is a Credit Union, if you think that they won't pull the same stuff as the big banks you are wrong.

I wish I could offer you something more substantial than sympathy - this must just be crushing.

My experience with Federal Credit Unions is that they pretty much make up their own rules. I had a bad experience with my account and my ex-husband's overdue auto loan. Took me three years to convince the Credit Union that we were divorced, I wasn't on the loan, I didn't know where he was, we weren't hiding money.

I think a bank would have been more responsive.

But, again, this is nothing but sympathy.

Thanks. Maybe just putting it in words tempers the sting a little. No help for the little guy but life goes on.