Legal Question in Real Estate Law in Florida

real estate /shortsales / discharge of mortgage

A second morrtgage lender provided a shortsale payoff. After the sale they filed a discharge of that mortgage . Thid property was homestead property. Now they are suing me. Can they do that?


Asked on 6/20/09, 10:35 am

1 Answer from Attorneys
Jean Winters Winters & Winters, PA

Re: real estate /shortsales / discharge of mortgage

You should carefully read payoff letter and the recorded satisfaction. A second mortgage lender may have agreed to release the mortgage for a short sale, but may not have agreed to cancel the debt. In that case, the satisfaction would probably include a reservation of rights on the underlying note. If you had a professional advising you on this short sale, you may have a cause of action.

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Answered on 6/20/09, 7:11 pm


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