Legal Question in Credit and Debt Law in Ohio
My home is in foreclosure, I am not married at this time. If they don't get enough from the Sheriffs sale to cover what I owe. Can they come back on me for this amount. And if I get married at a later date can they come back on him for any of this amount.
1 Answer from Attorneys
Generally, yes, a mortgage company can come after the borrower for the shortfall if the sale proceeds do not cover the debt. That is called a deficiency judgment. And no, a later marriage would not wipe out the debt. HOWEVER, you can negotiate with your lender about waiving the deficiency judgment. I would suggest that you talk to a HUD certified housing counselor (their services are free) or an attorney who has done foreclosure work to see if they can help you negotiate a deal with your lender.
Related Questions & Answers
-
Can anyone garnish wages from social security checks Asked 12/30/09, 3:17 am in United States Ohio Credit, Debt and Collections Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
