My son is going through a short sale in Florida. The bank has accepted one of the offers on his home. The mortgage was orriginally structured with two interest only loans from the same bank at the same time. Other than back property taxes and home insurance, what other things could he be liable for?
1 Answer from Attorneys
The most obvious item would be the deficiency; the difference between the mortgage amount due and the short sale amount. Other than that, an attorney would have to review the transaction in detail before being able to state what else would be owed.