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Foreclosure wage garnishing?
I was recently served my foreclosure notice. I was aware of this coming and am aware my credit is going to destroyed and I will lose my house. I was wondering if the bank or banks can garnish my wages to make up for their money lost?
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Yes. After they foreclose, and after they dispose of the property, I'll assume that there will be a substantial balance left once the sale has been completed.
When they determine this amount, you will be responsible for it. They will most likely sue you, and if they obtain the judgment, they can levy bank accounts and or garnish wages if that is allowed in your jurisdiction. |
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