Legal Question in Real Estate Law in Florida

I am now retired and on a fixed income. I have an investment property which is not producing any income(unoccupied)despite diligent efforts to find a renter. I am current on the mortgage and HOAs,but find it hard to keep it. Real estate taxes are going up,and the HOAs. My wife and I are looking at various options(short-sale,foreclosure or Ch 7). A short-sale would trigger a taxable event.

Would it be better to go chapter 7 (clean slate) vs. foreclosure?


Asked on 6/16/10, 2:10 pm

1 Answer from Attorneys
Lesly Longa Longa Law P.A.

It's going to depend on your income and your goals. I recommend consulting with two separate attorneys - one that handles just bankruptcy and another that handles just foreclosure defense, so you get a good idea of what your options are and how they will effect you. Many offer free consultations. Regards,

Read more
Answered on 6/17/10, 5:53 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Florida