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mymovinsale · Joined: 30 May 2010 Posts: 2 1.44 Dollars($)

I was transferred on my job. House is located about a hr and half from where currently work and is 60% under water, I will soon be retired with small pension and SS in 18 months. Cannot rent out house for even half the loan amount. House has 80/20 and 20 is one of those interest only loans for 50K. Seems the only way to go is DIL or Short Sale. I am so tired of stressing over this. I am in Fl and there is no chance of recovery in my lifetime. Question if I do this can they come after another property if it is free of mortgage this is the only place I will have to live since I cannot afford the house any longer.

adonis · Posted: Sun May 30, 2010 11:16 pm Post subject:

Welcome mymovinsale,

If you go for a short sale, then the lender will have the rights to recover the dues from you. In that case, he will be able to place a lien on your property if your name is mentioned on the property deed. As far as deed in lieu of foreclosure is concerned, you won't be liable for the deficient balance resulting from the sale. Thus, the lender will not be able to place a lien on any of your other properties.

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If I own another house can they take it in Fl?

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