Legal Question in Real Estate Law in Florida

I am a senior citizen (my husband is also) and we live on social security. We lost our home to foreclosure 3 years ago. When the house went up for auction a year ago my stepson bought it for 145000.00 less than was owed to the bank for the mortgage. If we buy the house back from my stepson can the bank put a lien on the property for the 145000.00? The house is only assessed at 75000.00 now due to the housing market. We live in FL. Thank you.

M.J


Asked on 9/02/10, 7:28 am

1 Answer from Attorneys
Richard Kaplan

The question is whether they got a deficiency judgement on the mortgage. Even if they did and you buy the property which becomes your homestead, the deficiency judgement wouldn't attached to the homesteaded property.

Hope this helps some.

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Answered on 9/07/10, 7:39 am


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