[m m]

...property goes into foreclosure? They are my 2nd mortgage.?

[admin]

absolutely not, they can foreclose but not touch your pay. If you can afford your home contact us so we can help. If you can not afford your home contact To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily.

[Jebgee]

I am assuming that the primary mortgageholder is foreclosing. The answer is yes, if the money from the foreclosure does not cover CitiMortgage's lien, they can get what is called a deficiency judgment (the primary mortgageholder can do this as well). With that judgment, CitiMortgage can not only garnish your wages, they can freeze your bank accounts and even foreclose upon other property you own.

[admin]

It cost money for attorneys to go after homeowners for deficiency and most banks are not pursuing at this time they are trying to deal with the immediate issue. The only way to garnish wages is to get a judgment and I think it is fair to say that they are not going after homeowners for deficiency. Up to about 6 months ago there would be a 1099 Issued but no longer.