Legal Question in Real Estate Law in Florida

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?

Asked on 4/01/11, 3:28 pm

1 Answer from Attorneys

Leon Ferraez Ferraez, LLC

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.

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Answered on 4/01/11, 6:24 pm

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