Can my savings in bank be taken in a house forclosure?Lost career job at United Airlines and have medical leave due to traffic accident. All happening 10 months before early retirement and in California. Not looking to file for bankruptcy. | |
Can my savings in bank be taken in a house forclosure?Lost career job at United Airlines and have medical leave due to traffic accident. All happening 10 months before early retirement and in California. Not looking to file for bankruptcy. | |
Eugene, if the bank forecloses on your house, they will take only the house. if you still have other debts, your creditor may try to get a cort order to levy your bank account, but this would be separate from the foreclosure.
If this is an original mortgage that you used to buy the house, then in CA they can't get a deficiency judgement. If this is not the original mortgage then they can go after your other assets.