Legal Question in Real Estate Law in Florida
Foreclosure
I have a second home that�s lost 35% of the value. I own too much to sell. What monetary obligation will I have if I choose to stop payments and allow the mortgage company to foreclose on the property?
Asked on 10/21/08, 12:31 pm
1 Answer from Attorneys
Brent Rose
The Orsini & Rose Law Firm
Re: Foreclosure
The mortgage company will likely foreclose on the house, selling it at auction. They may then come after you for the difference between what's owed on the house and what they can get for it, plus attorneys' fees and costs.
Answered on 10/21/08, 10:49 pm
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