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what happens if i forclose in the state of florida? can the bank come after me years from now?

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khawes061105 Joined: 07 Jun 2010 Posts: 1 1.26 Dollars($)	Posted: Mon Jun 07, 2010 4:52 pm    Post subject: what happens if i forclose in the state of florida? can the Like 0 Dislike 0 our home has decreased by 75% since we bought. we live in hillsborough county in tamp, fl. what will happen if we forclose? will the bank be able to come back 5 years from now and try to get us to pay?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Jun 07, 2010 9:02 pm    Post subject: Like 0 Dislike 0 Hi khawes! Welcome to forums! Deficiency judgments are allowed in Florida. If the property is sold off at a lower price than the present mortgage balance, then the lender will be able to sue you for the dues. To know more about Florida deficiency judgment, check out the given page: http://www.mortgagefit.com/florida/deficiency-judgment.html Feel free to ask if you've further queries. Sussane

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