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Taking house

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M

mhenley

Junior Member
New Jersey
I have a judgment against me for a credit card for about $15,000 because of unemployment that I can't pay. I don't have any property of value except a house that I have a mortgage on and I pay a more than 10% of my net pay to child support via wage garnishment.
Can the credit card company realistically take my house?
 


L

Ladynred

Senior Member
That depends.. . how much equity do you have in the house ??

If you have a LOT of equity, they may try it. If you don't have enough equity to even cover the amount of the debt, they're not going to bother. They could place a lien on it though. Taking someone's house is not a simple or fast process. It doesn't happen all that often on a debt like this.
 
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