Legal Question in Real Estate Law in Florida

We currently have a morgage for our home along with a second morgage for a pool, plus a rental property. Other than destroying a 800+ credit score and having to find somewhere new to live, are there any other consequences to letting them all go back to the bank by not paying on them? Can wages be garnished or could any lawsuits take place against us.

Thank you for your time.

Joe


Asked on 9/16/10, 12:14 pm

1 Answer from Attorneys
David Slater David P. Slater, Esq.

If they foreclose and sell, you are still responsible for any monetary shortfall.

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Answered on 9/22/10, 1:02 pm


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