Legal Question in Real Estate Law in Florida

Affect of Foreclosure on 2nd home

I have a mortgage on a house I am now renting out. I also have a mortgage on a house in which I am living.The house I am living in has gone into foreclosure. Can the bank file a judgement for any interest in my rental house, will it be affected at all from foreclosure on my resident house?


Asked on 1/02/03, 2:10 pm

2 Answers from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Affect of Foreclosure on 2nd home

yes.

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Answered on 1/02/03, 4:05 pm
David Slater David P. Slater, Esq.

Re: Affect of Foreclosure on 2nd home

If your residence qualifies as your homestead it is exempt from execution to pay off the money judgment they obtain against you, however, your rental property is not.

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Answered on 1/02/03, 5:21 pm


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