Legal Question in Real Estate Law in Michigan

forclosure

if you lose your house do to foreclosure can the bank come after you for any money. lets say you have some money in the bank can they take that money?


Asked on 8/05/08, 11:49 pm

1 Answer from Attorneys
Lesley Hoenig Lesley A. Hoenig, Attorney at Law

Re: forclosure

It depends. If they have a deficiency judgment against you, which can only be obtained if it was a judicial foreclosure, then yes, they can come after you for the money. They would need to have a deficiency judgment in order to do so though. With no deficiency determined, they cannot pursue you for further payment.

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Answered on 8/07/08, 11:26 am


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