Legal Question in Family Law in Florida
I want to pursue a divorce, but I have a house in foreclosure that will have a Deficiency when/if it ever gets sold. I live in Florida which is a recourse state. The title is in both our names, however the loan itself is only in my name. How is a foreclosure with a Deficiency handled if we try an uncontested divorce?
2 Answers from Attorneys
The lender will go after whoever is on the loan, meaning you. In divorce court you are both 1/2 responsible for the loan. Contact my office for free consultation.
During the divorce procedure negotiations between the parties will be had. I suggest you try doing a short sale while you can. If your wife did not sign the Note, then the debt will fall to you. However, you can negotiate this in court in order to even the playing court. If I can be of service, please contact my office for an appointment.
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