If you file for foreclosure can they go after your IRA's? 10 Answers as of January 24, 2013

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Frank Law Group, P.C.
Frank Law Group, P.C. | David E. Frank
No, only to the extent your IRA exceeds $1,000,000. In California lender can't get a deficiency judgment unless they judicially foreclose, which means they have to file a lawsuit against you to foreclose.
Answer Applies to: California
Replied: 1/24/2013
Law Office of D.L. Drain, P.A.
Law Office of D.L. Drain, P.A. | Diane L. Drain
It depends on the state where you live. Look at your state's exemptions.
Answer Applies to: Arizona
Replied: 1/16/2013
Law Office of Peter Holzer | Peter Holzer
Not unless they sue you for judicial foreclosure.
Answer Applies to: California
Replied: 1/16/2013
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
No, they can go after a deficiency judgment within 90 days after they have the foreclosure auction. I would suggest trying a short sale before it gets to auction.
Answer Applies to: New York
Replied: 1/15/2013
Ken Love Law | Kenneth Love
I am assuming you meant if you file bankruptcy. ..and the answer is that IRAs are normally 100 percent protected. If you meant you are facing a foreclosure...then after the foreclosure and if you got sued for a deficiency....then you are also protected
Answer Applies to: North Carolina
Replied: 1/15/2013
    Gary P. Alidor Attorney at Law | Gary P. Alidor Sr.
    IRA's are generally exempt from seizure.
    Answer Applies to: Alabama
    Replied: 1/15/2013
    Danville Law Group | Scott Jordan
    First, you would not be filing for foreclosure. The bank/lender performs the required filings. As to your question, without knowing more, no, the bank cannot pursue payment from your IRA's.
    Answer Applies to: California
    Replied: 1/15/2013
    Stacy Joel Safion, Esq.
    Stacy Joel Safion, Esq. | Stacy Joel Safion
    Most foreclosures are non judicial and they cannot get a deficiency judgment against you
    Answer Applies to: California
    Replied: 1/15/2013
    Zales Law Office
    Zales Law Office | Nicholas C Zales
    In most residential forcefulness in Wisconsin the bank does not seek a personal judgment against the debtor. So your 401(k) is safe if that is the case. You should have an attorney review the complaint in your case to see what kind of judgment the bank or lender is seeking. Be sure and file a timely Answer. If you do not you lose a lot of leverage in the lawsuit.
    Answer Applies to: Wisconsin
    Replied: 1/15/2013
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