- July 31, 2008 at 5:54 pm #260971
There is another option to give your house to the mortgage company in lieu of
foreclosure. It’s not as harsh. It’s almost the same thing, but they don’t
need to file against you and charge all sorts of legal fees and filing fees. It
still messes up your credit though.
I thought that when a person has their wages garnished the person gets to keep
the personel exemption plus the standardized deduction they are entitled to on
our taxes. That would be something like 9-10,000 dollars per year. It’s a
miserably low amount. But disability money should have NEVER been included in
those assets being frozen.
Subject: Re: Budget101.com : Before Our Credit is ruined
I lost my home a few years ago through foreclosure after I became disabled and
my income dropped to a fraction of what it had been previously.
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