Legal Question in Real Estate Law in Ohio
home repossession
can the bank come after my car, checking/savings accounts or other property i own?
Asked on 1/08/09, 8:18 am
1 Answer from Attorneys
J. Norman Stark
J. Norman Stark , Attorney, Architect
Re: home repossession
Dear Inquirer: Your concerns, in connection with the repossession of your home, is whether or not your personal property may be subject to attachment?
Answer: Yes! The lender may seek a deficiency judgment, to force you to pay the difference between whatever they can obtain for the property at a distressed sale, and the amount you owe on the defaulted mortgage, plus legal fees, etc.
I strongly urge you to seek legal advice ASAP to protect your assets from attachment.
Good luck. Sincerely, J. Norman Stark.
Answered on 1/08/09, 9:00 am