Posted on: 07th Jun, 2010 04:52 pm
our home has decreased by 75% since we bought. we live in hillsborough county in tamp, fl. what will happen if we forclose? will the bank be able to come back 5 years from now and try to get us to pay?
Hi khawes!
Welcome to forums!
Deficiency judgments are allowed in Florida. If the property is sold off at a lower price than the present mortgage balance, then the lender will be able to sue you for the dues.
To know more about Florida deficiency judgment, check out the given page:
http://www.mortgagefit.com/florida/deficiency-judgment.html
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Deficiency judgments are allowed in Florida. If the property is sold off at a lower price than the present mortgage balance, then the lender will be able to sue you for the dues.
To know more about Florida deficiency judgment, check out the given page:
http://www.mortgagefit.com/florida/deficiency-judgment.html
Feel free to ask if you've further queries.
Sussane