2007-03-24 07:11:05 · 6 answers · asked by plmedley 1 in Business & Finance ➔ Credit
I agree with spifiman -
But, only if your states exemption laws allow it.
2007-03-24 09:51:01 · answer #1 · answered by echo 7 · 0⤊ 0⤋
Actually the answer lies in the state that you live in. Check with a lawyer. A lien on you home only means that if you sell the house the lien must be paid off out of the proceeds. I had a lien against a home 20 years ago for $2500.00. Never heard from them and it fell by the roadside.
2007-03-24 17:15:59 · answer #2 · answered by John P 6 · 0⤊ 0⤋
Actually yes. If the lender takes you to court and gets a judgment, they can attach bank accounts and file liens on property.
This is only after they have recovered the vehcile and sold it at auction. You will be responsible for the balance due.
2007-03-24 14:55:47 · answer #3 · answered by ? 7 · 1⤊ 0⤋
Not unless you tendered your house as collateral on the vehicle loan.
Hmmmmm. You have a house and no ride.
This is the stuff middle class dreams are made of.
2007-03-25 02:30:18 · answer #4 · answered by DaMan 5 · 0⤊ 0⤋
Not per se. They can sue you and attach a judgement against your home. I believe their first step is to recover the auto, sell it, and then sue you for any remaining balance. They are required to minimize their losses.
2007-03-24 14:25:11 · answer #5 · answered by Scott K 7 · 0⤊ 0⤋
DID YOU USE HOME FOR COLLATERAL?
IF NOT THEN NO
2007-03-24 14:23:29 · answer #6 · answered by cork 7 · 0⤊ 0⤋