Underwater and unemployed - What to do
Date: Wed, 05/04/2011 - 00:46
Unless your lender approves a short sale, you won't be able to s
Unless your lender approves a short sale, you won't be able to sell off the property. If the lender approves your short sale and the property is sold off, you'll be liable for paying the deficient balance resulting from the sale of the property. However, the lender may not be able to garnish the amount that is in your 401k account. Retirement income or pension accounts are exempt from garnishment.
Dont touch your 4011k. I would walk away from it....if they com
Dont touch your 4011k.
I would walk away from it....if they come after you, file bankruptcy.