Legal Question in Real Estate Law in Florida

Foreclosure

My husband recently passed away.I am one of the people with subprime mortgage loan. I can no longer afford it. My mortgage is also has a negative amorization. I have IRA'S annuities, can the bank take them away from me.


Asked on 12/26/07, 8:00 am

2 Answers from Attorneys

Scott R. Jay Law Offices of Scott R. Jay

Re: Foreclosure

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

Generally IRA's and other retirement vehicles are exempt from claims of any creditors. Without more information on your annuities, it is impossible to say whether or not they can be taken away.

Scott R. Jay, Esq.

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Answered on 12/27/07, 12:26 am
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Foreclosure

Your IRAs and annuities should be exepmt from the reach of creditors.

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Answered on 12/26/07, 3:11 pm


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