QUESTION

Can a judgement take my home equity loan

Asked on Aug 26th, 2019 on Collections - New York
More details to this question:
I cosigned for my son to rent a house. He broke the lease and went bankrupt. I had no idea a judgement has been issued against me and my bank account is frozen. My account was frozen 3 days after my home equity and was approved and deposited into my account. That money was to be used to make improvements on my home. But Instead 60k was frozen out of 104k loan. Are they allowed to take my home equity loan money just like that?
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1 ANSWER

Estate Planning Attorney serving New York, NY
1 Award
You need to make a motion to vacate the judgment on some basis to unfreeze the account.  The cost and procedure turns on which court entered the judgment.
Answered on Sep 04th, 2019 at 2:57 PM

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