Legal Question in Real Estate Law in Florida

Is it ever OK to walk away from a VA secured mortgage? We owe 235K on our house and it's current appraised value is 140K. We don't think it will ever recover and are thinking of walking away from this toxic asset. Also, we have since relocated to North Carolina for a job and cannot afford 2 house payments anymore... so there is a sense of urgency around this...


Asked on 11/02/09, 7:42 pm

1 Answer from Attorneys
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

You can walk away. The house will be sold and you will owe the difference, plus fees and costs. Try to work something out with the bank.

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Answered on 11/13/09, 10:54 pm


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