Posted on: 30th Sep, 2009 07:52 am
IN THE STATE OF FLORIDA, CAN YOU BE SUED FOR NON-PAYMENT OF A TIMESHARE?
Hi LOINMIAMI,
As far as I know, Florida is a recourse state i.e. lenders here are allowed to go after the borrower if the sale of the mortgage security fails to repay the loan in full. Thus, if the timeshare goes into a judicial foreclosure and there is deficiency from the foreclosure sale, the lender can sue you for non-payment.
As far as I know, Florida is a recourse state i.e. lenders here are allowed to go after the borrower if the sale of the mortgage security fails to repay the loan in full. Thus, if the timeshare goes into a judicial foreclosure and there is deficiency from the foreclosure sale, the lender can sue you for non-payment.
Florida is a recourse state. In Florida the lender can go after you personally if the mortgage was not paid off by selling the underlying security (property)
jenkin you made me dizzy with that avatar!
Mee too
But to answer the post, yes the lender can come after you for deficient amoutn in thet state of florida
But to answer the post, yes the lender can come after you for deficient amoutn in thet state of florida