Legal Question in Bankruptcy in California
in the state of california can a bank make you cash in 401k or retirement on a foreclosure?
Asked on 10/05/10, 11:14 am
2 Answer from Attorneys
Tony Carballo
Carballo Law Offices
No but some people voluntarily cash in their retirement plans to pay the back payments and prevent forecloure. Often Chapter 13 bankruptcy is a better way to save a home from foreclosure and pay the late payments over up to 5 years.
Answered on 10/10/10, 9:37 pm
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