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Can the creditor attach or 'take' other property to satisfy deficiency?In: Repossession |
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Answer
James, dont know what state you are in But unless your state prohibits it, YES. The lein will "attach" to the property and when she gets ready to sell it, lein will have to be satisfied first.
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NO. They can only go after what property was secured by the loan.
First answer by James. Last edit by Mark. Question popularity: 56 [recommend question]
Answers.com > Wiki Answers > Categories > Business and Finance > Personal Finance > Debt and Bankruptcy > Debt Collection > Repossession > Can the creditor attach or 'take' other property to satisfy deficiency?
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What property and a judgment creditor attach? Can a bank put a lien on a primary residence that was bought after the initial mortgage of a different property to satisfy a deficiency judgement? Can a deficiency judgment be assessed to the husband if the property is only in the wifes name?
