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Old 10-28-2008, 12:30 PM
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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?)
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Old 10-28-2008, 03:38 PM
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Join Date: Feb 2007
Posts: 8,274
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.
  #3  
Old 10-28-2008, 04:12 PM
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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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