QUESTIONS? CALL: +1 (727) 847-2288
  • Meet our Staff
  • Attorney Profiles
  • Schedule an Appointment
  • Download Forms
  • Client Pay

Law Office of Roland D. Waller - Probate and Real Estate Attorney - New Port Richey, Florida

Law Office of Roland D. Waller - Probate and Real Estate Attorney - New Port Richey, Florida

Our firm takes a genuine interest in our clients, understands their objectives and meets or exceeds their expectations in a timely manner. We strive to provide superior legal services and maintain the highest standards of professional integrity.

T (727) 847-2288
Email: contactus@rdwaller.com

Law Office of Roland D. Waller
5332 Main Street
New Port Richey, Florida 34652

Open in Google Maps
  • Real Estate
    • Title Insurance
    • Contract to Closing
    • Contract Preparation & Review
    • Deeds
    • Buyer Representation
    • Seller Representation
    • Loan Modification Agreements
    • Mobile Home Title Transfers
    • Vacation of Easements
    • Rezoning
    • Mortgage & Note Preparation
    • Leases with Option to Purchase
    • Leases – Residential & Commercial
  • Probate
    • Trust Administration
    • Estate Administration
  • Estate Planning
    • Avoiding Probate
    • Medicaid Planning
    • Designated Health Care Surrogate
    • Durable Power of Attorney
    • Trusts
    • Wills
  • Elder Law
    • Guardianship Advocacy
    • Guardianship
    • Medicaid (Nursing Home) Planning
    • Special Needs Trust
    • Healthcare Surrogate
    • Durable Power of Attorney
  • Litigation
    • Condemnation
    • Boundary Dispute
    • Partition Action
    • Suit to Quiet Title
    • Defendant
    • Plaintiff
    • Eminent Domain
    • Land Use & Zoning
    • Contract Disputes
    • Evictions / Collections
    • Loan Modification
    • Foreclosure / Foreclosure Defense
  • Corporations
    • Preparation of Corporate minutes
    • Formation of Corporation or LLC
    • Partnership Agreements
    • Corporate Contract Preparation & Review
    • Purchase of Business
    • Sale of Business
  • Videos
    • About Us
    • Estate Planning
    • Guardianship
    • LLC’s and Corporations
    • Medicaid Planning
    • Probate
    • Real Estate
    • Real Estate – Buying
    • Real Estate – Selling
    • Real Estate – Foreclosure
  • Testimonials
Wednesday, 02 May 2012 / Published in Real Estate - Foreclosure, Videos

If My House is in Foreclosure, Can the Lender Take Money from My Bank Account?

 

Video Summary

If my home is in foreclosure, can the bank take money from my bank account? 

Well, the bank cannot, unless you bank with the same lending institution where you have your mortgage.  So if you have a bank account with Bank of America, and you also have your mortgage or line of credit with Bank of America and you go in default, they may exercise the right of offset to take money out of your account.

If, however, you have your mortgage with Bank of America, and you have your bank account with any other financial institution, Bank of America has no right to attach any of your assets or your bank account whenever you go into foreclosure.

A foreclosure action is one wherein the lender is taking back their collateral, which is called a foreclosure.  They are not suing for a money judgment. 

In order for them to obtain a money judgment, they must file a supplemental proceeding after the foreclosure action.  That’s called a “deficiency judgment action.”  And then, if they do obtain a deficiency judgment, they’re then in position to garnish your bank account, or take your bank account or any other assets other than your home or other assets that you may own as husband and wife.

So the answer to the question is:  No, the bank cannot take your money or your assets just because they file a mortgage foreclosure action unless you’re banking with them and they may have some right of offset.

If you’d like to talk to me or set up an appointment to discuss foreclosure action, please call me at (727) 847-2288, and I look forward to seeing you.

FEATURED VIDEOS

  • How Does A Lender Determine A Borrower’s Eligibility For A Loan Modification?

  • How Many Loan Modifications May A Borrower Receive?

  • When Is An Estate Too Small For Probate?

  • What Estates That Need Probate And Those That Don’t?

  • I Have No Mortgage On My Condo, But I Owe My HOA 10,000. Notice of Sale Issued. Will I Lose My Condo?

  • Having Trouble With My Homeowner’s Insurance They Denied A Claim, What Can I Do?

  • Why Would My Spouse Have To Sign If I Am Going To Live On The Property?

  • What is Estoppel Letter?

RELATED VIDEOS

About Us About Waller education real estate Waller
SUGGEST A VIDEO TOPIC

SIGNUP FOR NEW VIDEO NOTIFICATIONS

Keep up to date with our videos. We will notify you of any new video added via email.

Quick Links

  • Buyer Representation
  • Contract to Closing
  • Deeds
  • Leases w/ Option to Purchase
  • Leases – Residential & Commercial
  • Loan Modification Agreements
  • Mobile Home Title Transfers
  • Mortgage & Note Preparation
  • Contract Preparation & Review
  • Rezoning
  • Estate Administration
  • Trust Administration

Our Misson

“We Care”

Signup for our Newsletter

GET IN TOUCH

Tel: +1 (727) 847-2288
Fax: +1 (727) 848-4183
Toll Free: +1 800-304-2288
Email: contactus@rdwaller.com

Law Office of Roland D. Waller
5332 Main Street
New Port Richey, Florida 34652-2509

Open in Google Maps

  • Legal Terms
  • Website User Agreement
  • Privacy Policy
  • Legal Notice
  • GET SOCIAL
Law Office of Roland D. Waller - Probate and Real Estate Attorney - New Port Richey, Florida

© COPYRIGHT 2010-2021 RDWALLER.COM

TOP