Can the bank take my mom’s social security money if they forclose on her house?
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Can the bank take my mom’s social security money if they forclose on her house?
Asked on December 15, 2012 under Real Estate Law, Tennessee
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
If the loan on your mother's home is a purchase money loan then under the laws of all states in this country she is protected by her state's anti-deficiency laws and no judgment can arise. If no judgment arises her social security payments are not at risk. I suggest that she consult further with a real estate attorney about the matter for greater clarification.
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