Posted on: 03rd Aug, 2010 11:31 am
I have a townhouse that has incurred over $40,000 in special assessments as a result of the hurricanes. We have been unable to pay, and as a result, the Condo Association is sueing for Foreclosure to reclaim this money.
In Florida, if the sale of the home at auction is less than the balance of the mortgage and special assessments, can I request a deferment from having to pay the deficiency?
In Florida, if the sale of the home at auction is less than the balance of the mortgage and special assessments, can I request a deferment from having to pay the deficiency?
Hi dcbaer,
In Florida, the lender can come after you for the deficient balance resulting from the sale of the property. You can request the lender to forgive the deficient balance but it would be his discretion whether or not he would consider your request.
Thanks,
Jerry
In Florida, the lender can come after you for the deficient balance resulting from the sale of the property. You can request the lender to forgive the deficient balance but it would be his discretion whether or not he would consider your request.
Thanks,
Jerry