Legal Question in Real Estate Law in Florida
So I sold our home back in the 80s and the buyer assumed our mortgage. My name stayed on the mortgage. Now the property is nearing foreclosure after the buyer stopped making payments in 2009. In 2009, the buyer restructured the loan and changed the balance, term, etc and of course I was not involved in that. Am I still liable?
Asked on 8/15/13, 6:53 pm
2 Answers from Attorneys
Barry Stein
De Cardenas, Freixas, Stein & Zachary
Unless the bank removed you with the restructure, then yes. Someone needs to review all the paperwork.
Answered on 8/16/13, 6:47 am
Jean Winters
Winters & Winters, PA
A review of the paperwork is essential. Before seeing an attorney, you should find the closing papers from when you sold the house, to see if there was both a release and assumption of mortgage.
Answered on 8/16/13, 9:23 am
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