bad bank

[spline27]

What is the name of your state? Mississippi

i am being sued by my former bank over a foreclouser on a house i had financed through them isigned the house back to them to sell they did say i owe them nearly 5000 dollars plus attorny fees and court cost what might the judgement on it be how can i fight it

[Veronica1228]

Originally Posted by spline27

What is the name of your state? Mississippi

i am being sued by my former bank over a foreclouser on a house i had financed through them isigned the house back to them to sell they did say i owe them nearly 5000 dollars plus attorny fees and court cost what might the judgement on it be how can i fight it

When a bank forcloses on a home, they put it up for auction and sell it to the highest bidder. If the highest bid doesn't satisfy the outstanding balance of the mortgage, then they will expect you go to pay the difference.

Now before I give you advice, tell me how old is this debt? In other words, when did you make your last mortgage payment?

[spline27]

over a year and a half

[Veronica1228]

Originally Posted by spline27

over a year and a half

Well the SOL hasn't expired so you are still liable for this debt. Usually, they will take you to court and seek a judgement to garnish your wages or your bank account. I'm not sure if Mississippi has different rules for this, so check again tomorrow in case someone here has more info on that.

Are you able to make any kind of payment on this where you can try to get a payment plan with the bank? If not you would want to go to court and if it is a hardship to be garnished, take proof of this.

[spline27]

thank you what exactly could i take as proof the will accept?will they be looking at just my income or my wifes two?