Posted on: 25th Mar, 2010 04:04 pm
I work and bank and have a mortgage with the same company. Can my job fire me for foreclosure, and freeze my bank account and garnish my wages?
Hi Guest,
The foreclosure should not affect your employment. The bank cannot fire you just because you defaulted on your loan. The foreclosure has nothing to do with your professional life and your skills as an employee do not get affected by this in any way. However, they may freeze your bank account and garnish your wages. But they will have to follow proper procedure for that and will have to get a judgment against you for the garnishment.
The foreclosure should not affect your employment. The bank cannot fire you just because you defaulted on your loan. The foreclosure has nothing to do with your professional life and your skills as an employee do not get affected by this in any way. However, they may freeze your bank account and garnish your wages. But they will have to follow proper procedure for that and will have to get a judgment against you for the garnishment.