My home was foreclosed in 2008. I had an 2nd mortgage that was not cleared following the foreclosure. In 2012 the 2nd mortgage is after me for payment. My question is,if i receive monies from an inheritance and deposit it in the bank would the be intitled to any or all of it ?
Answer
You are responsible personally for the debt on the 2nd mortgage. The bank can pursue you, sue you and if they win can get a judgement against you. Only if you filed bankruptcy could this debt be discharged.
If that bank obtained a judgement against you, they can enforce that judgement against you through a legal process of locating and going against your assets.
You should immediately contact an attorney in your area who specializes in representation of debtors to receive information and protect your rights.
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