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Old 01-18-2008, 03:15 PM
 
39 posts, read 361,404 times
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I cannot afford my condo in Coral Springs anymore. Taxes went up, HOA fee's went up....I lost my job and had to get a lower paying one. I cannot do it anymore. My lender is Lehman brothers(Aurora loan services). I am a single female with no dependents. I have heard mixed answers when I asked this before somewhere else. Can the lender, upon winning a judement, go after me and actually garnish my wages ?? Any help is greatly appreciated.
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Old 01-18-2008, 06:55 PM
 
Location: NE Florida
17,833 posts, read 31,945,255 times
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filo
it depends on the lender.
As far as garnishment they can not garnish if you are head of household or on SS.

Once they have received a Judgment of foreclosure and the house goes to sheriff sale they can hold you for the difference. A judgment can be renewed for many years so if down the road you decide to purchase a different property they can possibly file a lien against it.
A option you may want to look at is either a short sale or a deed in lieu of foreclosure.

You didn't mention if your Mortgage is current.
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Old 01-18-2008, 07:02 PM
 
Location: Charlotte, North Carolina
5,137 posts, read 16,042,589 times
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Karla is correct.....

Also,
I think Judgements in FL are good for 10yrs...then can be renewed for another 10yrs.
Also, you need to check if FL is a 'garnishment state'.
I dont think they are....so then you will be safe with the income part.
They can file a 'deficiency judgement' against you if there's a difference in the selling price, and the amount owed.
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Old 01-18-2008, 07:22 PM
 
39 posts, read 361,404 times
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Thanks for the tips. Yes, I am current on my mortgage as of now. I did some research on florida being a garnishment state and I got some sources saying yes and some saying no....there is so much bad information floating around the internet that you wouldn't believe. Again, I am a single female with NO DEPENDANTS. Does this qualify me as "head of household" being that I have no dependants.

I hate spending $$ I don't have on some attorney that is going to charge me 250.00 to tell me what I could have found out myself. Problem is, is that I have been searching for this info and can't find it.
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Old 01-18-2008, 07:25 PM
 
Location: NE Florida
17,833 posts, read 31,945,255 times
Reputation: 43376
In order to be considered head of household you must have dependents
Being current on your mortgage will make it very hard for the lender to consider a short sale or deed in lieu
No I am not saying don't pay just so they will consider this.

A foreclosure is something you should consider only as a last result, the long lasting effects on your credit can cause you higher interest rates possibly higher insurance rates not to mention a future place to live . Rentals will pull your credit and the foreclosure could make them rethink renting.

Have you tried selling or roommate or even a part time job while trying to sell

here is a link that you can check the different garnishment laws by state

Garnishment Laws and Procedures listed by State

also this might help
STATUTE OF LIMITATIONS ON ENFORCEMENT FLORIDA:

Open Account (credit cards): 4 years
Written Contract: 5 years
Domestic Judgment: 7 years (renewable)
Foreign Judgment: 5 years
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Old 01-18-2008, 07:25 PM
 
Location: Charlotte, North Carolina
5,137 posts, read 16,042,589 times
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10. Florida Wage Garnishment
Florida Statutes, chapter 77 outlines very strict procedures for garnishment. Florida Statutes §222.11 offers a significant exemption to wage garnishment known as the "head of family" exemption. Effective July 1, 2001, the judgment creditor is required to serve a notice of rights to the defendant upon receipt of the employees answer with a form for the defendant to fill out to claim exemptions.
State wage garnishment and attachment rules

Quote:
Originally Posted by filo74 View Post
Thanks for the tips. Yes, I am current on my mortgage as of now. I did some research on florida being a garnishment state and I got some sources saying yes and some saying no....there is so much bad information floating around the internet that you wouldn't believe. Again, I am a single female with NO DEPENDANTS. Does this qualify me as "head of household" being that I have no dependants.

I hate spending $$ I don't have on some attorney that is going to charge me 250.00 to tell me what I could have found out myself. Problem is, is that I have been searching for this info and can't find it.
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Old 01-18-2008, 07:28 PM
 
39 posts, read 361,404 times
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Thanks Renriq02. I saw this too earlier while searching. It makes no sense to me...it is a poorly written statute from a consumer point of view. It's like Chinese too me and is too vague. What is a significant exemption and who qualifies as head of family ? Do I need a family ? Because I don't have one.


Quote:
Originally Posted by renriq02 View Post
10. Florida Wage Garnishment
Florida Statutes, chapter 77 outlines very strict procedures for garnishment. Florida Statutes §222.11 offers a significant exemption to wage garnishment known as the "head of family" exemption. Effective July 1, 2001, the judgment creditor is required to serve a notice of rights to the defendant upon receipt of the employees answer with a form for the defendant to fill out to claim exemptions.
State wage garnishment and attachment rules
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Old 01-18-2008, 07:32 PM
 
Location: NE Florida
17,833 posts, read 31,945,255 times
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lol all 3 of us were posting at the same time
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Old 01-18-2008, 07:32 PM
 
582 posts, read 1,961,089 times
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i wish i could answer that.i can tell you i'm in the car business and check credit 10 to 15 times a day and have been doing that for 11 yrs.i ve never seen anybody's wages garnished after a foreclosure.i think collateral loans are a lot different from personal or credit cards.i've seen a lot of repo's on customer's credit which the bank can do nothing about.they loaned the money here is what you loaned it on and it 's over.i could be wrong but i've never seen garnishment on homes or cars.these day's there's thousands of foreclosures and i haven't heard anything like that so i think you are safe.
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Old 01-18-2008, 07:35 PM
 
39 posts, read 361,404 times
Reputation: 54
Thanks again folks for all your input...I really do appreciate you taking the time to write !

N
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