Legal Question in Real Estate Law in Florida

Re: real estate

If your lender files a foreclosure case against (unless you sell the house and pay the lender)when your house is sold at the foreclosure sale the amount of the mortgage(you owe at time sale)less the amount bid at he foreclosure is what you would owe the lender(called a deficiency judgement).The lender would have to have a hearing following the sale to determine the exact amount and might not depending on the exact situation.The other negative is your credit is ruined.If you would like more specific info send me a short chronology to my e-mail address.I have represented many clients in foreclosure cases