FHA Loan, went to foreclosure... now they are taking our tax return
Date: Mon, 02/07/2011 - 19:51
My husband got an FHA loan to buy our first house in November 2004. We got foreclosed on September 2007. Now somehow they have been taking our entire federal tax return the last 2 years. this will be the third year. Is there anyway to stop this. They say we owe about $30,000 left on the house. Why do we have to still pay for it when we got foreclosed on?
Hi! Welcome to the forums! As far as I know, you are responsible
Hi!
Welcome to the forums!
As far as I know, you are responsible for the deficit balance even after foreclosure. Lenders can come after you for collecting the remaining amount. I guess you have to contact the concerned department and tell them that you want to work out an payment arrangement with them. This may help you stop them to take away your tax return. But it may take some time to complete the entire process.
