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In a foreclosure Is the bank allowed to pursue your other assets like 401 k money in your saving can they put a lien on them

n a foreclosure
Is the bank allowed to pursue your other assets like 401 k money in your saving can they put a lien on them

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Attorney answers (2)

Reputation Level 9
If you placed your 401 k as a guarantee on the mortgage, then probably yes.
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Reputation Level 18
Normally, retirement accounts are exempt from the claims of creditors. However, money in a savings account is not.

Please note that I do not practice in your state and that the above is not intended as legal advice, it is for educational purposes only. No attorney-client relationship is created or is intended to be created hereby. You should contact a local attorney to discuss and to obtain legal advice.
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