Posted on: 04th Jan, 2011 01:53 pm
I have recently foreclosed on my primary home in Florida (a recourse state). I bought it in 2005 and only my name was on the deed. I had an 80/20 loan and my 2nd loan was sold to Real Time Resolutions for collection when the foreclose process started. The 2nd loan is for $55,500 and Real Time is now actively seeking payment from me. I recently received a letter from their company saying they could garnish my wages or foreclose on my home (they didn't realize that my home had already been foreclosed on I guess).
I now live abroad with my husband who I married in 2008 (when the foreclosure process began). He owns a condo here that is NOT in my name. My question is this: does Real Time have the right to try and seize my husband's apartment or his wages? Can Bank of America (who had the 1st loan) pursue me or my husband in a few years if we continue to stay out of the country? Any advice is appreciated.
I now live abroad with my husband who I married in 2008 (when the foreclosure process began). He owns a condo here that is NOT in my name. My question is this: does Real Time have the right to try and seize my husband's apartment or his wages? Can Bank of America (who had the 1st loan) pursue me or my husband in a few years if we continue to stay out of the country? Any advice is appreciated.
Hi jennyj,
Your husband's name is not mentioned on your mortgage. In such a situation, the collection agency won't be able to come after your husband's property in order to recover your dues.
Thanks
Your husband's name is not mentioned on your mortgage. In such a situation, the collection agency won't be able to come after your husband's property in order to recover your dues.
Thanks