Legal Question in Real Estate Law in New York

I short sale my house in Long Island, NY in 2010 due to loss of a job. I had 2 mortgages from the same bank at the time. The first morgage forgave the difference in the short sale, however the second mortgage which is a line of credit is still going after the difference. The bank stopped contacting me and have since getting calls and correspondence from collection agencies. But I never responded to any of them not even the original bank because I do not know what to tell them and I don't have the financial capability to pay them back. Can they garnish my salary or put a judgment against my retirement or even freeze my bank account? Should I just wait until they decided to forgive the difference or should I initiate to call them to settle the difference to an amount I can afford? Thanks.

Asked on 12/31/12, 12:21 pm

Thomas Sirianni The Law Office of Thomas A. Sirianni

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Answered on 1/07/13, 8:58 pm

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