10-28-2008, 12:30 PM
| | Junior Member | | Join Date: Oct 2008
Posts: 2
| | | Can they take my car?
What is the name of your state (only U.S. law)? Florida
I am in the process of being foreclosed on in Florida. I have no other real assets except my car which I own outright. Can they take my car? Is there any benefit to taking out a loan on the car? (if I did could they then take it?) |
10-28-2008, 03:38 PM
| | Senior Member | | Join Date: Feb 2007
Posts: 5,487
| | | After foreclosure, they will need to fire an additional deficiency suit against you and win. Then they would have to find the assets. Even if they were to try to force the sale of the car, they'd be junior to the bank holding the car loan. |
10-28-2008, 04:12 PM
| | Junior Member | | Join Date: Oct 2008
Posts: 2
| | | Thanks Ron
Is there a length of time in which they can file the deficiency suit after the foreclosure? If I own the car outright they could seize it after such a judgement ? | |
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