Q: Can the bank take money out of my paycheck if they foreclosure the house !?
Is there a way to sign a deed for someone and not have any financial obligations
A: Foreclosures pertain to the mortgage, so transferring title is not typically a fix. Deficiency judgments after auction sales are uncommon but may occur, and collections actions may follow. More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney. You can read more about me, my credentials, awards, honors, testimonials, and media appearances/ publications on my law practice website, www.AEesq.com. I practice law in CA, NY, MA, and DC in the following areas of law: Business & Contracts, Criminal Defense, Divorce & Child Custody, and Education Law. This answer does not constitute legal advice; make any predictions, guarantees, or warranties; or create any Attorney-Client relationship.
A: I do not understand the facts here. Is there a foreclosure? Is it done? And, what is your relationship to the loan and the deed?
A: If they get a deficiency judgment and then send out an execution with notice to garnishee on your bank yes they can. The deed you sign would still be subject to the mortgage lien / foreclosure so that would just make the person you deeded the property over to subject to losing the rights in the home since the mortgage would have priority.
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