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can my bank garnish my wages

Lenders start going after foreclosed homeowners for monies owed

by Moe Bedard

Former homeowners may still be on the hook if there’s a difference between what they owed on their mortgage and what the bank could sell it for at auction. And these “deficiency judgments” are ticking time bombs that can explode years after borrowers lose their homes.
It can even happen to people who got their bank [...]

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Lenders pursuing foreclosed homeowners for unpaid mortgages

by Moe Bedard

Jan. 28 (Bloomberg) — When John King stopped making payments on his home in Coral Gables, Florida, two years ago, he assumed the foreclosure ended his mortgage contract, he said. Last month, a Miami-Dade County court gave collectors permission to pursue him for $44,000 stemming from the default.

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Banks & Collection Agencies Go After Foreclosed Homeowners

by Moe Bedard

“I thought this was finally over, but it’s one of these things where there’s no end in sight,” said Lane, a 65-year-old biotech executive who fell on hard times after losing his job and coming down with cancer.

Massachusetts homeowners who’ve lost properties to the state’s foreclosure crisis are finding that their troubles don’t necessarily end [...]

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