Legal Question in Credit and Debt Law in Florida

liens, foreclosures, protection
I will be facing a potential foreclosure soon on my primary residence. also have approx 150K in credit card debt. Have 2 businesses suffering from the economic situation. Want to pay my debts, just can't.. I have a vacant piece of property that I'm still current on the mortgage. If the bank forecloses and I have to move. I've considered placing a trailer on the vacant property just so my family has a place to live. Question: As long as I stay current on the vacant land mortgage that is un-associated with any other loans etc. Can the Credit Card companies or the lender that forecloses on my residence come after my vacant land that I'll be living on? Are there ways to to protect my property until I get back on my feet?

Asked on 11/11/08, 5:08 pm

Diane Downs DMD Law, P.A.

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Re: liens, foreclosures, protection

I would suggest you talk to a bankruptcy attorney who will be able to give you much needed advice on what to do.

Answered on 11/16/08, 10:18 am

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