Legal Question in Real Estate Law in Florida

My husband and I currently have a home which is financed in my name only. We owe $94,000 and the home is currently valued at $75,000. My husband has been out of work for over 2 yrs and it has become increasingly difficult to make the payments. We plan on relocating back up north where he has been offered a job and letting the home go into foreclosure. Your thoughts and advice would be appreciated. Will I be pursued for any outstanding balance after foreclosure, how agressive are they in collecting and would bankruptcy be a possible option should we need to cross that bridge. Thank you.


Asked on 2/01/10, 6:30 pm

1 Answer from Attorneys
Lesly Longa Longa Law P.A.

You may be pursued for the difference. The bank can get a deficiency judgment against you if the sale isn't enough to cover what you owe. If you have not yet been served with papers, it might be a good time to contact an attorney. You might be able to work something out. If you have been served, you may still want to contact an attorney to file an answer for you and see if you have any defenses available. Regards,

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Answered on 2/08/10, 11:53 am


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