Posted on: 16th Feb, 2010 10:10 pm
can i foreclose on my 1st mortgage with pnc and 2nd(equity loan) after my chapter 7 bankruptcy is dismissed? and will there be any reprecussion
financially? i can not meet our bills as my husband is ill and can no longer work. i spoke with my attorney today and she said just let them foreclose and there will be no penalties. but reading some of your answers-it seems as though the bank can come after us for monies and can garnish my wages. help!
financially? i can not meet our bills as my husband is ill and can no longer work. i spoke with my attorney today and she said just let them foreclose and there will be no penalties. but reading some of your answers-it seems as though the bank can come after us for monies and can garnish my wages. help!
As your bankruptcy has been dismissed, the lender will have the rights to foreclose the property. As far as financial repercussions are concerned, you'll be liable for the deficient amount resulting from the sale of the property. If you are unable to pay the dues, then the lender can garnish your wages.