I live in Ohio and my ex-husband and I just had our home go thru foreclosure..? about wage garnishment?
Question:
In Ohio i believe the limit is 25 percent
The lesser of either 25% of your disposable income or minimum wage. And they can only take that once per month.
In general, No -- the bank can not take any part of your check. You were given the loan using the property as collateral, so the house is the only asset that the bank has any rights to take. If you just went through foreclosure, then the bank sold the property at sheriff sale to pay off the loan that you owed to them that you had failed to pay.
However, there is one way that the lender could try to go after your other assets and income. This is through the use of a deficiency judgment.
In a deficiency judgment, the bank sues you for the difference between what you owed them and what the house sold for at sheriff sale. The courts could grant them the judgment and they could pursue any collection efforts that they saw fit.
It's pretty rare that lender's go after former homeowners for deficiency judgments, though, since they are aware that people who go into foreclosure do not have much in the way of assets or income. They face foreclosure because of a financial hardship and there is little chance they will be able to collect on the judgment.
Good luck.
ForeclosureFish
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