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Ask Ellen Your Own Question
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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If I foreclose my home in TX and move to CA can the bank do

Resolved Question:

If I foreclose my home in TX and move to CA can the bank do a deficiency judgement and have CA law accept it? If so can this type of judgment garnish my wages? If yes irked than BK do I have protection options to protect my wages?
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 6 years ago.

WebLaw :

*Due to rules of your state bar or mine, nothing herein is intended as legal advice, only intended as general information to better help yourself.*

WebLaw :

So sorry to hear of this dilemma. If my answer is not clear to you, please ask me for clarification by using the reply button.

I am typing your answer -- one moment please.

Customer: Thanks
WebLaw :

If your home in Texas is foreclosed, the lender can obtain a deficiency judgment against you. The full faith and credit clause of the U.S. Constitution would allow the judgment to be executed in California. California would permit your wages to be garnished

WebLaw :

You may want to consider filing a chapter 7 bankruptcy to discharge your personal liability under the mortgage and keep the wages that you will make in the future

Customer: I make too much
Customer: Any other protection?
Customer: Crazy if I stay in TX not much they can o to me
WebLaw :

You can file a chapter 13 bankruptcy but that would require a 3 to 5 year payment plan. Alternatively you may remain in Texas where your wages cannot be garnished

WebLaw :

Please let me know if you have any questions concerning my answer. Otherwise please click accept.

Customer: Can a good lawyer negotiate a reduced judgement amount?
Customer: Last ? Is 401k protected in CA
WebLaw :

yes a good attorney can typically negotiate a reduced judgment amount

Customer: Thanks and 401k safe in Ca?
WebLaw :

still looking

WebLaw :

11 U.S.C. § 522 - yes they are exempt

Customer: Thanks
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