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if you forclose in fl because your payment is too high and your house (bought 2005) is now worth about 1 /2 of what you paid - what are the chances of getting a deficiency judgement against you. can you prvent one?

Niicss · Posted: Mon Jan 25, 2010 3:26 am Post subject:

If the lender forecloses the property, you would be responsible for paying the balance amount. If you want to avoid paying the balance dues, you can apply for a deed in lieu of foreclosure. You won't be responsible for paying the deficient amount to the lender.

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with all the forclosures in fl why are there so few deficiency judgments