I am in Ohio, if I move to N.C. can my wages be garnished for the outstanding amount of my foreclosure?
Question:
Answer:
Yes, they can pursue you to the four corners of the United States. You will have to move to another Country.
dont worry you wont make anything in nc to be taken away
I think foreclosure is a final act. Once they take the house, they can't come after you anymore.
The short answer is, yes. The question is, how much can they get, and is there anything you can do to protect yourself.
Let's assume you owe 100,000 on the house. The bank will foreclose and auction the home. Let's say someone pays them $70,000 for the home. In this simple hypothetical, you still owe them for the $30,000 difference between what you owe and what they got.
Now, before they can collect that money, they must first obtain a judgment. Then they must try to collect that judgment. Finally, they can go back to court and ask for a garnishment and then enforce that. This is a time consuming process, but they will eventually collect from you, regardless of where you move to. Even if you are unemployed, the judgment won't magically disappear. Eventually you will find a new job, and they will come to collect.
A foreclosure is not a problem that is going to go away, no matter how far you run from it. You need to try to work with the lender to negotiate a short sale, or some other terms, or possibly consider contacting an attorney and discussing a bankruptcy.
absolutely they can garnish you wherever you go if they find you.
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