If I can no longer afford my mortgage and can’t qualify for aid so foreclosure is eminent, can my lender come after my vehicles and personal property?

Asked on November 7, 2012 under Real Estate Law, Arizona

Answers:

eric redman / Redman Ludwig, P.C.

Answered 8 years ago | Contributor

the lender has to go through a foreclosure process that takes 6-10 months here in Indiana.  you can live there free for that time.  if the lender does not get paid fully from your house when it sells, then you owe the deficiency.  in Indiana you can protect 9350 dollars in personal propertry including cars.

bakruptcy would eliminate this and other debts and also allow you to stay in your home 3-5 months longer- free.


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