Legal Question in Real Estate Law in Florida
If I do owner financing on a house and land I own, if the buyers default , what are specifics of a forcloseure??
Asked on 12/10/09, 10:58 am
2 Answers from Attorneys
Brent Rose
The Orsini & Rose Law Firm
You've asked a very difficult question. Mortgage foreclosures can be complicated lawsuits. If you find you need to file a mortgage foreclosure against your buyer, you should hire a foreclosure lawyer.
Answered on 12/15/09, 12:04 pm
Alan Wagner
Wagner, McLaughlin & Whittemore P.A.
That is an easy question and the answer can involve a lot of variables. Essentially, you sue to enforce the debt then the property is sold to pay the debt. You end up, perhaps, getting money from the sale or you can end up owning the house again.
Answered on 12/15/09, 3:25 pm