Legal Question in Real Estate Law in Florida

Can a mortgage company seek reimbursement on a property that has aleady foreclosed? Or will this just damage your credit?


Asked on 11/03/11, 5:39 am

1 Answer from Attorneys
Stephen Orchard Law Offices of Stephen Orchard

The answer is all of the above. The foreclosure will impact your credit, the lender may engage in collection efforts for the difference, and the lender may obtain a judgment called a "deficiency judgment" against you.

You should consult with a bankruptcy attorney to determine whether bankruptcy is an option for you. Bankruptcy would prevent the lender from pursuing the deficiency and may have other benefits.

Best of luck

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Answered on 11/03/11, 6:38 am


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