Legal Question in Real Estate Law in Florida
Hi,
When I relinquished and got delinquency status in my property, my neighbors were selling their homes between $200k-$250k. My lender undecided to take the property through foreclosure and two years later allowed a short sale for a reduced price of $142K. Now after the home sold, they are trying to get a deficiency judgment against me. Should I carry with this loss since I had not power selling the property early and getting a better deal?
Thanks
2 Answers from Attorneys
The express language contained in the documents entered into in connection with the short sale transaction will determine whether or not the lender has the right to seek a deficiency judgment against you or whether the lender waived same. It would be advisabble for you to consult with an attorney to provide you with a more thorough analysis based upon a review of the relevant documents.
Did you agree to the short sale? You may have done so without being informed that your lender still has the right to seek a deficiency from you, but you are required to read any documents before signing them. I agree that you should contact an attorney to review the documents. Regards,