Legal Question in Credit and Debt Law in Florida

This year I had to short sell a second home I owned, and I have reason to believe that the lender will file for a deficiency judgment and try to collect the deficiency. I am planning to retire in another year and will have to sell the home I live in and move to a smaller place. When I sell my primary residence, will the money from the sale be subject to collection by creditors before it could be put into a new home?


Asked on 1/16/13, 11:35 am

2 Answers from Attorneys
David Slater David P. Slater, Esq.

If it is solely from the sale of your homestead, no.

Read more
Answered on 1/16/13, 11:54 am
Lucreita Becude Lucreita D. Becude, P.A.

Your homestead is not subject to credit collection. However, be sure those funds are secured in an account that can not be attached by the collection agency as until it is sorted out, they could freeze your account.

Read more
Answered on 1/16/13, 1:23 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Florida