Q: Can forclosure judgment take money straight from my bank account

A: I suggest that you meet with a real estate attorney to over this situation in detail.

However, the foreclosing bank has one year from the date of the final judgment of the foreclosure to bring an action for a deficiency judgment. (Deficiency is the dollar amount difference between the final judgment and the fair market value of the property on the date of the foreclosure judgment).

A: If they got a foreclosure judgment and the house was sold at auction and it has now been 4 years later, the lender cannot pursue you for the unpaid balance of the mortgage. This unpaid balance is called a deficiency and a "deficiency judgment" is need to be gotten from the court. The issue is that the lender had to file an action for a deficiency judgment within one year of the foreclosure sale's finalization (I am generalizing the law). They apparently did not and so there can be no money judgment against you on this matter.

A: If there is a foreclosure judgment against you, that is not a money judgment, that is a judgment for possession of you home. As Attorney Williamson stated, there is a one year statute of limitations for collection of any money determined to be owed following the foreclosure, so it does not appear that you have to worry about having any money judgment entered against you relative to your foreclosure case. Best of Luck to you!