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We have listed our house on short sale, can they use my 401 K to make me pay the deficency of the sale or is it safe?

Twin Falls, ID |

are my ASSETS SUCH AS A TRAVEL TRAILER THAT IS STILL OWED ON SAFE?

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Attorney answers 1

Posted

There are limits on what a mortgage company can claim in a deficiency, and what any creditor can take in executing a judgment. To know precisely how the rules will apply to you requires a full case review by counsel experienced in Idaho law. With the information you have provided, it is not possible to predict what assets of yours are safe (although as a general rule retirement accounts are exempt).

Best wishes for a favorable outcome, and please remember to designate a best answer.

This answer is offered as a public service for general information only and may not be relied upon as legal advice.