Home Loans and Support

Short sale success with Nationwide (first)

Discussion in 'Short Sale Outpost' started by iloveemma, Mar 17, 2010.

  1. iloveemma

    iloveemma LoanSafe Member

    Just want to let people that short sales are possible and do happen. It took two months for the process to happen. They did want the buyer to pay $3500 more which they agreed to.

    They also said they would not ask me to sign a deficiency judgment. I receive Social Security disability which led to a huge income loss.

    The next hurdle is the approval from the 2nd. They know my financials and income circumstances.

    So I am waiting to hear what their response will be. I chcked with my attorney to see if they proceed with suing for the loss and win, will they be able to garnish my SS disability.

    Anyone know?
  2. Evan Bedard

    Evan Bedard Call 1-800-779-4547 Loan Safe Mortgage

    I do not believe that your social security benefits can be garnished from your lender. Check this out form the FTC:

    Many federal benefits are exempt from garnishment, including:

    • Social Security Benefits
    • Supplemental Security Income (SSI) Benefits
    • Veterans’ Benefits
    • Civil Service and Federal Retirement and Disability Benefits
    • Service Members’ Pay
    • Military Annuities and Survivors’ Benefits
    • Student Assistance
    • Railroad Retirement Benefits
    • Merchant Seamen Wages
    • Longshoremen’s and Harbor Workers’ Death and Disability Benefits
    • Foreign Service Retirement and Disability Benefits
    • Compensation for Injury, Death, or Detention of Employees of U.S. Contractors Outside the U.S.
    • Federal Emergency Management Agency Federal Disaster Assistance
    But federal benefits may be garnished under certain circumstances, including to pay delinquent taxes, alimony, child support, or student loans.
  3. whbsolutions

    whbsolutions Guest

    Nice information post. Thanks for the share. :)

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