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Roger
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Category: Real Estate Law
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If I let my timeshare go into foreclosure, can they garnish

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If I let my timeshare go into foreclosure, can they garnish our wages? I realize that our credit scores would be impacted, but what is the worse case scenario if the loan defaults?
Submitted: 5 years ago.
Category: Real Estate Law
Expert:  Roger replied 5 years ago.

Hi - my name is XXXXX XXXXX I'm a Real Estate litigation attorney here to assist you.

 

Missouri does not allow deficiency judgments after a foreclosure occurs, so your lender should nor be able to seek a judgment against you for any balance left after foreclosure. Thus, the lender should not be entitled to seek a garnishment against you.

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