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Richard, Attorney
Category: Legal
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Experience:  Attorney with 29 years of experience.
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after foreclose of condo can bank take money from bank account.

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after foreclose of condo can bank take money from bank account. All monies I get or have comes from a military service disability (wounded in Korea)or SS
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good morning. Even though Florida is a deficiency state, which would allow a bank to pursue you for a deficiency, whether or not they will depends upon their assessment of the collectibility of a deficiency judgment. So, if you can convince them there is nothing for them to get, and that if they were to pursue a judgment, you would simply file for bankruptcy protection and get the judgment discharged—and even if you have no intention of doing so, it is still good leverage with the bank because they do not know whether or not you would… then it is unlikely the lender will spend the time and money necessary to get a judgment they believe is uncollectible in the end. Before they could do anything, they must first sue you for the deficiency and get awarded a judgment against you. But, even if they were to do this, your disability income is exempt...both before and after its receipt. So, they would have no ability to touch any account containing those disability payments in any event.

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Thanks so much for the positive rating and bonus! I appreciate your kindness and the opportunity to serve you! If I can be of assistance to you in the future, just look me up and I will be happy to help!

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