Legal Question in Real Estate Law in Florida
real estate foreclosure
Due to miscommunication condo dues were not paid for a lengthy period. I thought they were being directly withdrawn. I was never notified that they were not or that they were in arrears. The condo is rented and a notice of foreclosure was placed on the door. Don't I need to be legally notified as the owner? If the condo association forecloses what is the impact on the bank loan I have for the condo? Do I lose the condo and still owe the bank?
2 Answers from Attorneys
Re: real estate foreclosure
Yes. You had better look into this and stop the foreclosure.
Re: real estate foreclosure
It sounds like the foreclosure may already have occurred and an eviction notice was posted on the door. Obviously, you had to have notice of the foreclosure. If you were not personally served, and the mortgagee could not find you, then they likely served notice by publication. If the loan forecloses, the bank is entitled to pursue for a deficiency judgment, if the condo sells for less than the loan.
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