Legal Question in Real Estate Law in Florida

Re: Florida Mortgage

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You should approach your lender - and others, in an attempt to renegotiate your loan terms. Unfortunately, any loss in value will be your problem and you might not be able to get a loan to cover the full amount you seek.

Although you may have some options, they are probably not very good at this time. Rates are fairly low at this point, and the refinancing may be best due to recent drops in interest rates.

Short sales are not being looked at very favorably by lenders today as they too are caught in a financial crunch. If you walk away and the lender forecloses, you will be faced with negative credit and most likely a substantial deficiency judgment.

Scott R. Jay, Esq.

Re: Florida Mortgage

You have alot of options, and should only consider a short sale as a last resort. Our Law Firm can give you fare MORE viable options to remedy your current situation. Contact us directly for a free consultation.

Re: Florida Mortgage

You need to go to your bank ASAP and re-negotiate.

They will come after you if you allow foreclosure, and you will have a deficiency judgment (or two) plus courts costs, penalties, interest, attorney fees, etc.

E-mail or call, if you need more.

Good luck!