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    sharon2u's Avatar
    sharon2u Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 1, 2009, 11:15 AM
    Vehicle Volunteer Repoed
    Can someone answer this one for me?? I have a car that I am going to volunter to take back to the dealership where I purchased it from. I cannot make the payments on it due to an illness and not working. I reside in Texas a state that does not place a brick sort to speak on a persons bank account other than for child support. Nor can they remove funds from your account unless it is the same bank in which put the loan up for the purchase and it is not, the credit union that was used was in MA. Now by doing this can I possibly lose my home? It is paid for and nhomesteadded I have additional property that is next door to mine but it is not home stedded but paid for. Can they take that away from me? Home someone can answer this one for me.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #2

    Oct 1, 2009, 11:20 AM

    Hello s:

    The debt is secured now, so the judgment they get can be secured too. They won't take it away from you, but if you ever sell or try to get a mortgage, they're going to be FIRST in line to be paid.

    I'd sell it and pay the bank.

    excon
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #3

    Oct 1, 2009, 01:19 PM

    I read that they can take the second home - the primary residence is protected.

    Will they? I very much doubt it. Instead a lien will be filed.

    What kind of money are you talking about? How much?
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