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    SandiDA1010's Avatar
    SandiDA1010 Posts: 1, Reputation: 1
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    #1

    Mar 10, 2008, 09:43 AM
    Can a mortgage company levy a bank account
    I live in Florida and my house might go into forcloseure. Can the bank eventually levy my bank account to get there money. Or Garnish my wages. ALso would it make a difference if I have a bank account for checking and savings with the bank that owns my mortgage
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    Mar 10, 2008, 09:52 AM
    Hello Sandi:

    There's been a lot of discussion on that subject here - only regarding Florida, however. If what has been presented here, on this board in the past is true, you should thank your lucky stars that you live in Florida.

    That information is that the bank CANNOT go after any deficiency in your mortgage. All the other states DO NOT protect a homeowner like Florida does. I can't refer you to any statutes, but as I recall, the presenter DID cite legal sources.

    Maybe somebody here can find those posts.

    I wouldn't take my word, however. With your bank accounts at risk, you want to hear it directly from your attorney sitting across the desk from you.

    excon
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