It's scary to think that at any moment your bank could grab every dime you make and leave you broke. Most people short sell their house because of financial problems.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure. http://columbusohshortsaleadvisors.com/
They can't afford to lose a month's worth of salary. But, here is the good news. There is a maximum amount that anyone can garnish. According to the Department of Labor's Website, https://www.dol.gov/compliance/guide/garnish.htm anyone garnishing your wages can take a maximum of 25% of whatever you earn.
Sure, it's not fun to have 25% of your earnings taken. But, 25% is much less than the 100% that most people think they will take.
So, even if you do get a deficiency on your short sale, it is not the end of the world. They cannot take all of your money and ruin your life.
Before your lender can garnish your wages they usually have to go to court and get a judgment against you. That takes time and costs money. A lawsuit can cost them a thousand dollars or more.
The high costs causes lenders to think twice before suing most homeowners. Even better news is the fact that there are a lot of loopholes. For example, in Florida the head of household is exempt from garnishment.
Most garnishments have to be approved by a judge. If you can show the judge that you have kids to take care of, then they may deny the garnishment.
Or, you can show the judge that a garnishment would cause you serious financial hardship where you couldn't afford gas to drive to work.
The bottom line is that so few homeowners who short sell their house will ever be pursued with a garnishment.
We have helped hundreds of homeowners with a short sale and haven't met anyone whose wages were garnished after the short sale. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at robin.lemmons@kingthompson.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Rick and Robin Lemmons.
Rick and Robin is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Rick & Robin Lemmons specialize in helping Columbus Homeowners short sale and never pay the bank another penny. Columbus Loan Modification Help, Columbus Short Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
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Important Notice
Rick and Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorsed by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Rick and Robin's personal views and do not reflect the views of Coldwell Banker King Thompson.
This information on Will I Have My Wages Garnished After A Columbus Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.
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