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 8 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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