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BEING SUED FOR A TIME SHARE

IN THE STATE OF FLORIDA, CAN YOU BE SUED FOR NON-PAYMENT OF A TIMESHARE?

jenkin7's picture
jenkin7 | Joined: June 4, 2007 11:02 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi LOINMIAMI,

As far as I know, Florida is a recourse state i.e. lenders here are allowed to go after the borrower if the sale of the mortgage security fails to repay the loan in full. Thus, if the timeshare goes into a judicial foreclosure and there is deficiency from the foreclosure sale, the lender can sue you for non-payment.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:14 | Post subject:

hemsleysue's picture
hemsleysue | Joined: September 13, 2009 07:07 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Florida is a recourse state. In Florida the lender can go after you personally if the mortgage was not paid off by selling the underlying security (property)

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:14 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

jenkin you made me dizzy with that avatar!

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:14 | Post subject:

sunnyca2009's picture
sunnyca2009 | Joined: August 4, 2009 07:15 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Mee too

But to answer the post, yes the lender can come after you for deficient amoutn in thet state of florida

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:14 | Post subject:

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