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Depends on which state you live in what all the details would be. You can be sued for the remaining balance after the sale of the property. If you don't pay and if it is allowable in your state, they can garnish your wages and place liens on any property you may own that has any significant value. If you file for bankruptcy protection, you are protected by the bankruptcy laws.
What else can I help you with?
Can Back taxes loan companies take your home?
Yes they definitely can because if you don't pay your taxes your home will go for foreclosure
When your home goes through foreclosure do you still have to pay the loan off from the bank?
no...the note goes back with the bank...your credit is ruined for five years
What does foreclosure mean?
Foreclosure is the legal and professional proceeding in which a mortgagee, or other lien holder, usually a lender, obtains a court ordered termination of a mortgagor's equitable right of redemption.Foreclosure means that you didn't keep your end of the bargain to pay back a loan and the loan holder is in the process of taking the car or house back.
Can you pay back a loan with the loan money?
No, you cannot pay back a loan with the same loan money.
You are a disabled widow your home is going in foreclosure can the bank make you pay back the loan on a fixed income?
Did this hypothetical widow borrow the money? If so, then yes.
What term is defined as a legal process in which mortgaged is sold to pay the loan of the defaulting borrower?
Foreclosure
Do you have to pay back the loan for repairs on a home?
What you do with a loan is irrelevant. You always have to pay it back.
What is it called when you don't pay back a loan?
Failing to pay back a loan is called defaulting on the loan.
Can you be forced to take out a loan?
If you are in need of money to help a finical situation you may be forced by debt collectors to create a loan to pay them off
Which term is defined as a legal process in which mortaged property is sold to pay the loan of the defaulting borrower?
foreclosure
Do you have to pay back an unsecured loan?
It is probably a good idea to pay back any loan. A loan, by definition, is something being furnished on condition of being returned. If you don't pay it back, it is not a loan. It is stealing.
Is it possible for me to pay back my 401k loan early?
Yes, it is possible to pay back your 401k loan early.
