Legal Question in Real Estate Law in Massachusetts

My family is moving out of the country in a few months. I live in MA and will be selling my home before we move. But I also have a vacation home in Florida. Can I walk away from the vacation home and stop paying the mortgage and condo fees and move away?


Asked on 1/17/12, 4:45 pm

1 Answer from Attorneys

If you leave without resolving the issue the Lender in FL may foreclose on the property and get a judgment for the amount of any deficiency (Value of home - Mortgage and expenses) if the property is worth less than the Mortgage. They could seek to enforce the judgment against any assets you may have left in the US or seek to recover on the judgment where you move.

I suggest you contact the FL lender and tell them you want to give them a deed in lieu of foreclosing of the property.

Good Luck

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Answered on 1/17/12, 6:23 pm


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