Legal Question in Real Estate Law in Florida

Hi,

When I relinquished and got delinquency status in my property, my neighbors were selling their homes between $200k-$250k. My lender undecided to take the property through foreclosure and two years later allowed a short sale for a reduced price of $142K. Now after the home sold, they are trying to get a deficiency judgment against me. Should I carry with this loss since I had not power selling the property early and getting a better deal?

Thanks


Asked on 2/12/10, 7:53 am

2 Answers from Attorneys
Matt E. Bales, Jr., Esq. Bales & Bales, P.A.

The express language contained in the documents entered into in connection with the short sale transaction will determine whether or not the lender has the right to seek a deficiency judgment against you or whether the lender waived same. It would be advisabble for you to consult with an attorney to provide you with a more thorough analysis based upon a review of the relevant documents.

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Answered on 2/17/10, 8:07 am
Lesly Longa Longa Law P.A.

Did you agree to the short sale? You may have done so without being informed that your lender still has the right to seek a deficiency from you, but you are required to read any documents before signing them. I agree that you should contact an attorney to review the documents. Regards,

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Answered on 2/19/10, 9:19 am


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