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

jenkin7 · Posted: Fri Oct 02, 2009 12:25 am Post subject:

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.

hemsleysue · Joined: 13 Sep 2009 Posts: 72 0.02 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)

gmakerley · Posted: Fri Oct 02, 2009 11:27 am Post subject:

jenkin you made me dizzy with that avatar!

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Mee too

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

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BEING SUED FOR A TIME SHARE