Worried that your bank might go after your other assets if you’re late on the mortgage or lose your home to foreclosure?
It can happen in Florida, especially if a bank sells your foreclosed house and doesn’t recoup the full loan amount and if you’re a big-dollar borrower.
With nearly half of all mortgages under water in South Florida, plenty of residents may wonder if their home lender can garnish their wages or suddenly lock down their deposit accounts.
via Mortgage mess: Worried your bank may go after your other assets if you’re in foreclosure?.