Legal Question in Real Estate Law in Florida

Re: Bank Mortgage

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Your IRA is safe from a creditor. Your other investments may not be, however. Any assets you have that are not protected may be attached or garnished by a judgment creditor to satisfy an outstanding judgment.

You should meet with an attorney and discuss your legal rights and obligations. Perhaps it may be time to sell your property to avoid foreclosure if you cannot afford the mortgage payments. Alternatively, there may be ways to protect other assets from the reach of creditors. Your attorney should be able to advise you on these matters.

Scott R. Jay, Esq.