Florida  |  Real Estate Law

Legal Question

Asked on: 9/24/13, 6:07 am

I purchased a condo in Florida at the peak of the real estate market and three years later was forced to walk away from the property and loan because of a lost job and the value had dropped to below 1/3 of my purchase price. It has been five years now and I have made no attempt to contact the lender. I occasionally will receive collection notices from the current servicer of the loan but otherwise have heard nothing. I would like to see this resolved and am wondering what I should do and what kind of consequences I may face.

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