Comments on: Can My Lender Grab My Personal Savings in a Short Sale Deal? http://www.mortgagecreditproblems.com/blog/can-my-lender-grab-my-personal-savings-in-a-short-sale-deal/ Expert Advice & News on Bad Credit Mortgage, Mortgage Refinancing & Home Loans Sat, 31 Jul 2010 00:50:57 +0000 http://wordpress.org/?v=2.3.2 By: Gina Pogol http://www.mortgagecreditproblems.com/blog/can-my-lender-grab-my-personal-savings-in-a-short-sale-deal/#comment-15485 Gina Pogol Fri, 18 Jun 2010 17:13:19 +0000 http://www.mortgagecreditproblems.com/blog/can-my-lender-grab-my-personal-savings-in-a-short-sale-deal/#comment-15485 In bankruptcy, creditors cannot get your retirement accounts (except amounts exceeding $1 million). In bankruptcy, creditors cannot get your retirement accounts (except amounts exceeding $1 million).

]]> By: Bruce Carroll http://www.mortgagecreditproblems.com/blog/can-my-lender-grab-my-personal-savings-in-a-short-sale-deal/#comment-14589 Bruce Carroll Tue, 25 May 2010 17:17:05 +0000 http://www.mortgagecreditproblems.com/blog/can-my-lender-grab-my-personal-savings-in-a-short-sale-deal/#comment-14589 Gina, great blog. My question is "where or whom says 401k or pension plan assets cannot be seized by lenders?" My wife has a 401k worth $200,000 and we are concerned that will be seized. So again, what government agency or what ruling, if any, has there been to set precedence the lender won't seize the only asset we have left? Gina, great blog. My question is “where or whom says 401k or pension plan assets cannot be seized by lenders?” My wife has a 401k worth $200,000 and we are concerned that will be seized. So again, what government agency or what ruling, if any, has there been to set precedence the lender won’t seize the only asset we have left?

]]> By: Gina Pogol http://www.mortgagecreditproblems.com/blog/can-my-lender-grab-my-personal-savings-in-a-short-sale-deal/#comment-6588 Gina Pogol Wed, 30 Sep 2009 17:15:56 +0000 http://www.mortgagecreditproblems.com/blog/can-my-lender-grab-my-personal-savings-in-a-short-sale-deal/#comment-6588 Thank you. That made my morning :) Thank you. That made my morning :)

]]> By: Blaison http://www.mortgagecreditproblems.com/blog/can-my-lender-grab-my-personal-savings-in-a-short-sale-deal/#comment-6587 Blaison Wed, 30 Sep 2009 17:13:07 +0000 http://www.mortgagecreditproblems.com/blog/can-my-lender-grab-my-personal-savings-in-a-short-sale-deal/#comment-6587 Gina, I like your responses in this blog!! You are direct in your answer, it seems that you know what you are doing and more knowledgable in short sale also. Thanks for giving accurate answers. Keep up the good work!!! Blaison Gina,

I like your responses in this blog!! You are direct in your answer, it seems that you know what you are doing and more knowledgable in short sale also. Thanks for giving accurate answers. Keep up the good work!!!

Blaison

]]> By: Gina Pogol http://www.mortgagecreditproblems.com/blog/can-my-lender-grab-my-personal-savings-in-a-short-sale-deal/#comment-6383 Gina Pogol Tue, 22 Sep 2009 15:25:39 +0000 http://www.mortgagecreditproblems.com/blog/can-my-lender-grab-my-personal-savings-in-a-short-sale-deal/#comment-6383 In non-recourse states, like California, the lender cannot pursue a deficiency judgment. In other states they can. In Nevada, for example, lenders have been known to approve short sales and then require the borrower to sign a note stating that the deficiency is a collectable debt. Never do this unless you want the lender to be able to obtain a judgment, then take your bank accounts and garnish your wages. The threat of bankruptcy can make the lender be a bit more reasonable--have an attorney contact the lender if the workout department is being unreasonable. In non-recourse states, like California, the lender cannot pursue a deficiency judgment. In other states they can. In Nevada, for example, lenders have been known to approve short sales and then require the borrower to sign a note stating that the deficiency is a collectable debt. Never do this unless you want the lender to be able to obtain a judgment, then take your bank accounts and garnish your wages. The threat of bankruptcy can make the lender be a bit more reasonable–have an attorney contact the lender if the workout department is being unreasonable.

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