QUESTION
What happens to my bank account in foreclosure?
Asked on Aug 28th, 2013 on Foreclosures - New Jersey
More details to this question:
My bank is with different bank. I am in loan modification and it's not working well. I have a date in court on November 4th. I want to know if the bank can take my money in account when judgement for summary and attorney fees and costs are set?
2 ANSWERS
If the bank gets a money judgment against you it can execute on any of your assets, including bank accounts.
Answered on Aug 29th, 2013 at 11:19 AM
General Law Attorney serving Cherry Hill, NJ
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Mark S. Cherry, Attorney at Law, PC
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In new jersey a foreclosure does not result in a money judgment unless the bank files a separate deficiency action.
Answered on Aug 29th, 2013 at 9:08 AM