Yes, when a home is foreclosed on in Tennessee and there is a deficiency between the amount collected and amount owed, your wages can be garnished to pay the difference. You may be able to file an exemption or file for bankruptcy to avoid this.
A home cannot be garnished. Your wages or bank account could be garnished. Your home would be liened. Whether or not a lien can be placed depends on who is seeking funds from you and why.
Texas allows wage garnishment by the judgment creditor if there are no other means of the judgment holder collecting the monies that are duly owed.
That would depend on garnishment laws from state to state. In Texas, no.
Till the cops evict you.
Yes, wages can be garnished for consumer debt. The creditor would first have to sue you and get a judgement, then ask the court to garnish your wages. If the debt is secured, like a home or car they will likely just foreclose or repossess.
There are a few benefits of buying a foreclosed home. Foreclosed homes are generally cheaper than non-foreclosed homes. One can also negotiated for a better deal with a foreclosed home because banks want to sell the home quickly.
If you are referring to a mobile home loan default, and there is a deficit balance left after the home is sold, then yes...you can be garnished. Talk to an attorney and see if you can work out the problem, before you give up this home. There is more to this problem than you think! Good Luck.
A home can be foreclosed on if the terms of the loan are violated. The amount does not matter.
You can take anything that was owned prior moving into the foreclosed home. Foreclose is a hard task and will not benefit anyone.
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There is nothing wrong with buying foreclosed homes. A professional should be hired to inspect the home and find out what kind of repairs will be needed. There are pros and cons with purchasing a foreclosed home.